The State Bank of Pakistan has proposed discontinuing the Rs10 note and replacing it with a Rs10 coin, and has sought federal government approval for the change. No introduction date has been confirmed — the proposal is still awaiting sign-off.
The Rs10 note in Pakistan could be on its way out. SBP has proposed replacing it with a coin, part of a wider currency review that also touches security features across other denominations.
Here's exactly what's been proposed, what's confirmed versus still pending, and what SBP has said about why.
Key Takeaways
- SBP has proposed replacing the Rs10 note with a Rs10 coin — this is not yet a done deal
- Federal government approval is still required before anything changes
- No introduction date has been confirmed
- Pakistan's current currency notes have been in circulation since 2005
- Counterfeit Rs1,000 and Rs5,000 notes were raised as a concern during the briefing
- A new note design process is underway through PEPRA, with four bidders involved
SBP Seeks Approval to Replace Rs10 Note With a Coin
The State Bank of Pakistan has proposed replacing the Rs10 note with a Rs10 coin and has sought approval from the federal government to proceed. The matter was raised before the Senate Standing Committee on Finance.
Worth being precise here: SBP has not introduced a Rs10 coin. It has proposed the change and is waiting on approval. Those are different stages, and headlines compressing them into "SBP introduces Rs10 coin" are getting ahead of where things actually stand.
Why Is the Rs10 Note Being Discontinued?
According to the information shared with the committee, the cost of producing the Rs10 note has risen to a point where it no longer makes economic sense relative to the note's face value.
This is a familiar problem in currency management. Low-denomination notes are expensive to print, handle and replace relative to what they're actually worth, and once printing costs climb high enough, switching to a coin — which lasts far longer in circulation — becomes the more sensible option. It's the same logic that's driven similar changes in other countries over the years.
When Will the New Rs10 Coin Be Introduced?
No confirmed date has been given. The proposal still needs federal government approval before any timeline can be set.
Until that approval comes through, the Rs10 note remains legal tender and in normal circulation. Nothing changes for anyone holding or using Rs10 notes today.
Pakistan Plans New Currency Notes With Updated Security Features
The Rs10 coin proposal sits inside a broader currency review. SBP officials indicated that all denominations would eventually be replaced with new notes carrying updated security and design features.
This is a considerably bigger undertaking than the Rs10 question alone — it points toward a full generational refresh of Pakistan's banknotes, not a single-denomination fix.
Why Is Pakistan Updating Its Currency Notes?
Pakistan's existing currency notes have been in circulation since 2005 — over two decades of the same core designs. Security technology has moved on considerably in that time, and older note designs become progressively easier to counterfeit as forgers catch up with whatever protections were current when the notes were introduced.
A redesign after this long isn't unusual. It's roughly the pattern most central banks follow — periodic refreshes that stay ahead of counterfeiting technology rather than waiting until fake notes become a serious problem.
Counterfeit Rs1,000 and Rs5,000 Notes Raise Concerns
During the Senate committee briefing, concerns were raised specifically about counterfeit Rs1,000 and Rs5,000 notes — Pakistan's two highest-denomination notes, and the ones where a successful forgery causes the most financial damage per note.
For context, the committee was told that the printing cost of a genuine Rs5,000 note is approximately Rs14. That figure applies specifically to the Rs5,000 note's production cost — it is not related to the Rs10 note or coin proposal, which is a separate matter entirely driven by the Rs10 note's own cost-to-value ratio.
High-value notes being targeted for counterfeiting is standard incentive logic — the potential payoff per forged note is highest at the top of the denomination scale, which is exactly why security upgrades tend to prioritise those notes first.
How Will the New Pakistani Currency Notes Be Designed?
The design and consultancy process for the new notes is being run through PEPRA — the public procurement rules governing how government contracts are tendered. Four bidders have been involved in the process.
Final currency designs will require federal government approval before anything moves to production, consistent with how currency decisions of this scale are typically handled.
How Long Could It Take to Introduce the New Notes?
The information shared with the committee pointed to approximately one year as an expected timeframe for the broader currency changes. Treat that as an estimate rather than a fixed date — timelines on projects requiring multiple layers of government approval tend to shift.
What Happens Next for the Rs10 Coin and New Notes?
Two approvals need to happen before either change becomes real: federal government sign-off on the Rs10 coin proposal, and separately, approval of the final currency designs coming out of the PEPRA tender process. Until both are confirmed, this remains a proposal under review rather than a policy already in motion.
Current Status at a Glance
| Currency Item | Current Status |
|---|---|
| Rs10 Currency Note | Proposed to be discontinued |
| Rs10 Coin | Proposed as replacement |
| Federal Government Approval | Required, not yet granted |
| New Currency Notes | Under design revision |
| Existing Notes | In circulation since 2005 |
| New Note Introduction | Approximately one year (estimated) |
| Currency Design | Requires federal government approval |
Nothing here has changed for anyone using cash today. The Rs10 note remains legal tender, and existing notes of every denomination continue to be valid. These are proposals working through an approval process, not decisions that have taken effect.
Final Thoughts
The proposal to replace the Rs10 note with a Rs10 coin is a real development, but it's still exactly that — a proposal. Federal government approval hasn't been given, no introduction date exists, and the change sits inside a much larger currency redesign that will take time to work through the tender, design and approval stages. The practical takeaway for now: nothing has changed, your Rs10 notes remain valid, and the timeline to watch is the federal government's decision on SBP's proposal rather than any specific launch date.
15+ years in business · In-house fitting in Multan · Nationwide delivery · Exact-fit products, never universal
Browse All Car Accessories →Questions about accessories for your car? Contact us — 0321-1117525 · Open Mon–Sun, 9am–9pm.