Currency confusion

Currency Confusion – The confusion prevailing in Pakistan is deep and profound as was borne out by the striking lack of knowledge people have about the denominations of currency of their country. When given a pale golden Rs.10 coin to a retailer he termed it fake though it was issued by the State Bank of Pakistan on 24 October, 2016. The Rs.10 coin remains quite unknown to most people although it is still very much in circulation. Not only that but wherever it is recognised to be in circulation it is not wanted. Same is the case with Rs.75 currency notes that the State Bank of Pakistan had issued just last year. The green-coloured banknote was issued to commemorate the 75th independence day of Pakistan. The note has portraits of four founders Quaid-i-Azam Mohammad Ali Jinnah, Dr. Allama Mohammad Iqbal, Mohtarma Fatima Jinnah and Sir Syed Ahmed Khan on its front. Retailers point out that they have accumulated plenty of Rs.75 notes as no customer wants it. Typically, the State Bank of Pakistan stated that both the Rs.10 coin and the commemorative Rs.75 note introduced by the SBP are perfectly fine and acceptable for market transactions. The Weekender