Web Desk: Central bank has introduced a simplified system for citizens to obtain fresh currency notes ahead of the upcoming Eid al-Fitr celebrations, aiming to make the traditional exchange of “Eidi” easier while curbing profiteering in the open market.
Across Pakistan, it is customary for elders to give children crisp banknotes as Eidi during Eid al-Fitr, a gesture that adds to the festive spirit of the holiday. The practice significantly increases demand for new currency each year as families prepare to distribute small denominations to younger relatives.
Recognising the seasonal surge, the State Bank of Pakistan has issued a formal procedure to help the public obtain fresh banknotes conveniently through designated bank branches.
Under the central bank’s mechanism, citizens can request new currency by sending a text message from their mobile phones.
Applicants must type their 13-digit national identity card number, followed by a space and the code of their nearest bank branch, and send the message to 8877. After the request is submitted, the applicant receives a confirmation message containing a verification code along with the address of the assigned bank branch.
To collect the notes, individuals must visit the specified branch with their original national identity card and a photocopy. Bank staff then verify the details and provide fresh currency notes to the applicant.
Authorities emphasise that the service is provided free of charge and that no additional fee should be collected under the official scheme.
The central bank said the initiative also seeks to prevent illegal trading of new banknotes in informal markets, a practice that typically intensifies before Eid.
Demand often rises sharply in the days leading up to the holiday, prompting some vendors to sell fresh notes at inflated prices.
Market traders, for example, have been selling bundles of Rs10 notes worth Rs1,000 for around Rs1,200 to Rs1,300. Similarly, bundles of Rs50 notes totaling Rs5,000 are reportedly being offered for between Rs5,500 and Rs6,000.
Banking officials say newly issued Rs20 and Rs50 notes are among the most popular during the Eid season. Children commonly use their Eidi money to buy toys, sweets and small gifts, turning the tradition into one of the most anticipated moments of the holiday festivities.
By introducing a structured distribution system, the State Bank hopes to ensure fair access to fresh currency while preserving one of the country’s most cherished Eid traditions.
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