Following complaints of nonacceptance of these special commemorative bills by dealers and purchasers across the country, the State Bank of Pakistan (SBP) reaffirmed Thursday that both green and blue Rs75 banknotes were legal tender.
“…under Section 25 of the State Bank of Pakistan Act, 1956, all banknotes including commemorative notes issued by SBP are legal tender everywhere in Pakistan for the amount expressed therein and carry the guarantee of the Federal Government,” the SBP said in a statement.
The SBP stated that the Rs75 (predominantly green) banknote released on August 14, 2022, to commemorate 75 years of Pakistan’s independence, and the Rs75 (predominantly blue) banknote issued on July 4, 2023, to commemorate 75 years of SBP’s establishment, are legal currency across Pakistan.
According to the statement, these banknotes are equally eligible to serve as a medium of exchange, i.e. for the settlement of private and public obligations.
Also read: SBP issues Rs75 commemorative banknote to mark foundation day
Both blue, green colour Rs75 banknotes are legal, says SBP.
Furthermore, the SBP and all commercial banks must issue and accept these currencies from the public.
Shopkeepers, taxi drivers, and others have refused to accept these notes, according to citizens. Some, though, embrace it after being persuaded.
“I used it only once when I had to pay a taxi driver. He first showed reluctance in accepting that but when I assured him that the State Bank has notified the note as a legal form of exchange, he took it,” Tazeen Naim told The Asian Mirror.
