Govt approves Rs10 coin to replace banknote, new currency designs

Pakistan’s federal cabinet has cleared plans to replace the Rs10 banknote with a coin and approved designs for a new series of currency notes, Business Recorder reported on Wednesday. The Prime Minister’s Office said the cabinet acted on a proposal from the Finance Ministry, following consultations by a committee and submissions from artists and designers.

The redesigned notes are intended to incorporate stronger anti-counterfeiting safeguards and more durable materials. The move to a coin follows an SBP proposal to discontinue the Rs10 note because of increasing production costs. The central bank began work on a replacement series in January 2024, and officials told a Senate committee that introducing the new notes would take about a year.