SBP to demonetize Rs5 banknote by Dec 31

 KARACHI: With the matter of Rs500-denomination banknote’s demonetization yet unsettled, State Bank of Pakistan (SBP) has notified that banknote of Rs5-denomination shall cease to be a legal tender with effect from January 1, 2012, Geo News reported.

The banknote of the lowest denomination in circulation will not be accepted anymore, said an SBP statement.

State Bank has urged the holders of this banknote to have it changed no later that Dec 31, 2011 to save themselves from any inconvenience.