Karachi: New currency notes worth Rs 110 billion were issued in Pakistan ahead of Eid, data released by the central bank showed. Fresh currency notes are used to give Eidi to children on Eidul Fitr, an annual Muslim religious festival which follows a month of fasting.
State Bank of Pakistan said the issuance of fresh currency notes increased by 16 percent this year. Last year new notes worth Rs 94 billion were issued.
Every year in Ramadan, the central bank makes arrangement to issue fresh currency notes. Many people make money out of black marketing these notes.
Account holders in the country drew a total of Rs 260 billion in the month of Ramadan for meeting Eid expenses.
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