As Eidul Fitr 2026 approaches, many Pakistanis were eagerly awaiting newly designed currency notes to distribute as Eidi. However, the State Bank of Pakistan (SBP) has shared an important update that may dampen festive expectations.
New Currency Notes Not Available for Eidul Fitr 2026
Governor Jameel Ahmed has confirmed that new currency notes will not be available during Eidul Fitr 2026. Speaking to journalists, the SBP governor explained that although the federal cabinet has already approved the designs, the process of printing and circulation will take additional time.
He clarified that once approved, currency notes undergo complex printing, testing, and security verification processes, making it impossible to release them in time for the upcoming Eid.
Advanced Security Features in Upcoming Notes
The SBP governor revealed that the upcoming banknotes will include state-of-the-art security features, making counterfeit detection easier for the public and financial institutions.
Key highlights of the new currency design include:
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Enhanced anti-counterfeit technology
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Improved visual security elements
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Easier distinction between genuine and fake notes
These upgrades aim to strengthen public confidence in Pakistan’s currency system once the notes are officially launched.
International Banks Eye Entry into Pakistan
In a significant development for the banking sector, Governor Jameel Ahmed disclosed that three major international banks have shown interest in opening branches in Pakistan.
While he did not disclose the names or countries of origin, he confirmed that negotiations are currently underway, signaling growing international confidence in Pakistan’s financial system.
Interest Rates & Government Revenue Explained
Addressing a common misconception, the SBP governor clarified that lower interest rates do not reduce government expenses.
Instead:
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Lower rates reduce State Bank profits
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SBP profits are transferred to the government as revenue
He revealed that in the previous year alone, the State Bank contributed PKR 2,400 billion to the national exchequer, highlighting the central bank’s critical fiscal role.
Remittances, Exports & Economic Outlook
On the broader economic front, the governor shared several key updates:
Remittances
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Expected to exceed annual targets
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Projected to reach $42 billion in the current fiscal year
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Strong inflows from overseas Pakistanis remain a major economic support
Exports
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Overall exports may decline year-on-year
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Rice exports have dropped sharply
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Non-food exports have increased by 5–6%
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Government support expected to help rice exports recover
External Payments & Digital Economy Push
The SBP governor confirmed that:
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$6 billion in external payments have already been made
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$4 billion more is due in the next five months
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These obligations are expected to be managed comfortably
He also highlighted major progress in digital payments, announcing plans to:
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Digitize 2 million merchants this year
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Expand financial inclusion
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Improve SME financing access
Additionally, reduced interest rates are expected to make housing loans more affordable for the public.
Crackdown on Exchange Companies
Governor Jameel Ahmed revealed strict regulatory action against illegal currency trading:
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Previously, 166 exchange companies were operating
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After enforcement, only 26 authorized companies remain
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New rules for open-market currency trading have been enforced
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Severe penalties will be imposed for violations
These measures aim to stabilize the foreign exchange market and curb illegal practices.
Conclusion
The State Bank of Pakistan’s update on new currency notes for Eidul Fitr 2026 confirms that Pakistanis will need to rely on existing notes for Eidi this year. While the delay may disappoint some, the assurance of high-security, modern banknotes points toward a stronger currency system in the future.
Meanwhile, positive indicators such as rising remittances, improved digital payments, and international banking interest suggest gradual economic strengthening, even as challenges in exports and external payments continue.
This content is published for general information and awareness purposes. kixxoil.pk is an independent informational website and is not officially connected with any government authority or public institution. Readers are encouraged to confirm details directly from official sources before making any decisions.
