Pakistan to Replace the Rs10 Banknote with a Coin as Cabinet Approves New Currency Designs

The Rs10 banknote, one of the most used notes in Pakistan, is on its way out. The federal cabinet has approved replacing it with a Rs10 coin, and has also approved the designs of a new series of currency notes with stronger security features.

The decisions were taken at a cabinet meeting chaired by Prime Minister Shehbaz Sharif in Islamabad on Wednesday, 4 November 2026, on the recommendation of the Ministry of Finance. The announcement was made in a statement from the Prime Minister’s Office after the meeting.

For now, nothing changes in your wallet. The government has not set a date for the Rs10 note to stop being legal tender, and no deadline has been announced for exchanging old notes. The Rs10 notes in circulation today remain valid, and people should keep using them as normal until the State Bank of Pakistan says otherwise.

At a glance

• What happened: The federal cabinet approved a Rs10 coin to replace the Rs10 banknote, and approved designs for a new series of currency notes.
• When: At a cabinet meeting chaired by Prime Minister Shehbaz Sharif on Wednesday, 4 November 2026.
• What changes now: Nothing. No date has been set for the Rs10 note to stop being legal tender, and no exchange deadline has been announced.
• Why a coin: Coins last far longer than low-value paper notes, and the State Bank says the Rs10 note has become expensive to print relative to its value.
• What happens next: The State Bank will begin printing the new notes after building up stocks, and the redesigned notes are expected to reach the public within about a year. The State Bank will announce the withdrawal schedule for the Rs10 note in due course.

What the cabinet decided

The cabinet took two currency decisions at the same meeting.

First, it approved the introduction of a Rs10 coin to replace the existing Rs10 banknote. The Prime Minister’s Office statement records the decision plainly: a ten-rupee coin will take the place of the ten-rupee paper note. Pakistan Point, reporting the official handout, described the decision as part of the government’s economic reforms, and said the cabinet had decided “to discontinue the Rs10 banknote and introduce a Rs10 coin in its place”.

Second, the cabinet approved the designs of a new series of currency notes. The designs were approved on the recommendation of the Ministry of Finance, after a detailed briefing to the cabinet. The new notes will use modern materials and carry enhanced security features designed to prevent counterfeiting, and they are meant to last longer in circulation.

The cabinet was told that proposals for the new designs had been invited from artists, art experts and professional designers across the country, and that a cabinet committee set up by the prime minister had held detailed consultations with stakeholders before finalising its recommendations.

What happens to the Rs10 notes in your pocket

This is the question most people will ask first, and the answer is simple: nothing happens yet.

The cabinet’s decision does not cancel the Rs10 note overnight. No date has been given for the note to stop being legal tender, and no deadline has been announced for exchanging existing notes. Until the State Bank of Pakistan formally announces a withdrawal schedule, Rs10 notes remain valid money. Shops must still accept them, and there is no reason to rush to a bank to change them.

The State Bank has been clear on this point before. In September 2026, it dismissed social media reports that the Rs10 note had already been discontinued, calling them baseless. In a clarification issued on 17 September, the central bank said that if any denomination were ever discontinued, the decision would be formally communicated to the public, and people would be given adequate time to exchange the notes.

That promise still stands. The cabinet has now approved the change in principle, but the practical steps — when the coin enters circulation, when the note stops being printed, and when old notes must be exchanged — will be announced by the State Bank through its official channels. Until then, the safest advice is to keep using Rs10 notes as normal and to rely only on official announcements, not on rumours on social media.

Why replace a note with a coin?

The reason is durability, and it comes down to simple arithmetic.

A low-value banknote changes hands constantly. It is used for bus fares, small shop purchases, tips and change, so it wears out quickly. A coin, by contrast, can stay in circulation for years. Around the world, central banks routinely replace their lowest-value notes with coins for exactly this reason: coins of low denominations are more durable and remain usable for longer than low-value paper notes, as the official handout itself noted.

Cost is the other half of the story. The State Bank of Pakistan had already proposed withdrawing the Rs10 banknote because it had become expensive to produce relative to its value. In August 2026, the bank’s Deputy Governor, Dr Inayat Hussain, told the Senate Standing Committee on Finance and Revenue that the central bank had proposed withdrawing the note after the introduction of the new currency series. He also disclosed that printing a Rs5,000 banknote costs approximately Rs14, according to Profit, which reported the committee proceedings.

The Rs10 note is the smallest paper denomination in everyday use, which makes it the most obvious candidate for replacement. Pakistan has phased out lower-denomination paper notes before, and the move follows that pattern: when a note costs nearly as much to print as it is worth, and wears out in months, a coin is the cheaper and longer-lasting option.

The new currency notes: what will change

The cabinet’s second decision — approving the designs of the new currency series — is the bigger change in the long run, even if it will take longer to reach the public.

The new notes will be printed on modern materials and will carry advanced security features that are difficult to copy, making counterfeiting harder. The designs are meant to reflect the country’s culture, history and development. According to Bloom Pakistan, the themes built into the new designs include Pakistan’s regional and geographical diversity, its historical landmarks, women’s contribution to national development, and climate change.

Reports say the redesign covers the main denominations, including Rs100, Rs500, Rs1,000 and Rs5,000. The State Bank’s original art competition, launched in March 2024, covered all seven paper denominations from Rs10 to Rs5,000, with a jury of artists shortlisting six designs for each denomination.

The new notes are expected to reach the public within approximately one year, according to Business Recorder. State Bank Governor Jameel Ahmad has indicated that the central bank will begin printing the new notes after receiving cabinet approval, and that the rollout will take place in phases, with the bank first building up sufficient stocks before releasing the new currency into circulation.

Preparations for the new notes have been under way for some time. Security Papers Limited, which makes the paper for Pakistan’s banknotes, awarded a Rs3.4 billion paper machine upgrade to the German firm Giesecke+Devrient in March 2025, a project expected to be completed within eighteen months, Profit reported.

How Pakistan got here

The cabinet decision is the latest step in a process that has been running for nearly three years.

• January 2024: The State Bank of Pakistan began the process of designing and issuing a new series of banknotes covering all existing denominations.
• March 2024: The central bank opened an art competition for the new designs, inviting proposals from artists and designers across the country.
• August 2026: State Bank Deputy Governor Dr Inayat Hussain told the Senate Standing Committee on Finance and Revenue that the bank had proposed withdrawing the Rs10 banknote after the new currency series was introduced, and said roughly a year would be needed to bring the redesigned notes into circulation.
• September 2026: The State Bank dismissed social media reports that the Rs10 note had already been discontinued, and promised that any future withdrawal would be formally announced with adequate time for exchange.
• 4 November 2026: The federal cabinet approved the new currency note designs and the introduction of a Rs10 coin to replace the Rs10 banknote.

The long timeline is normal for currency redesigns. New notes must be designed, tested, printed in large quantities and distributed across the country before they can be released. That is why the State Bank has said the rollout will be gradual and phased, rather than all at once.

One point of confusion

Readers may come across conflicting reports about this decision, so it is worth addressing directly.

Two accounts of the same cabinet meeting circulated on 4 November, and they did not agree. Pakistan Today reported that the cabinet had decided to retain the Rs10 denomination, so that the banknote would continue to remain legal tender and stay in circulation. The Prime Minister’s Office statement issued after the meeting says the opposite: it records the approval of a ten-rupee coin in place of the ten-rupee banknote.

The Prime Minister’s Office statement is the formal record of what the cabinet decided, and it is supported by the reporting of the Express Tribune, Business Recorder, Pakistan Point and several other outlets, all of which reported the coin’s approval. But the disagreement is a useful reminder of one thing both accounts agree on: no date has been set for the note to stop being legal tender. Whatever the final implementation looks like, the Rs10 note remains valid today.

What it means for everyday life

For most people, the change will be gradual and easy to adjust to.

A coin is heavier and bulkier than a note, so a pocket full of Rs10 coins will feel different from a pocket full of Rs10 notes. But coins also survive washing machines, rain and rough handling far better than paper, and they do not tear. For shopkeepers, bus conductors and street vendors who handle Rs10 notes all day, a coin that does not need to be checked for tears or counterfeits is a practical improvement.

Small transactions are where the Rs10 note matters most. It is the note people use for a cup of tea, a short bus ride, a newspaper or change at a shop. A Rs10 coin will do the same job, and because coins last longer, the State Bank will need to replace them far less often — which is where the saving comes from.

There is also a wider benefit. The new series of notes, with modern materials and stronger security features, should be harder to forge. Counterfeit notes are a real problem for small businesses, which often cannot afford the machines that banks use to check notes. Better security features help everyone who handles cash, not just the banks.

The change will also affect people who save small amounts at home. Coins are easier to store in jars and boxes, and they do not lose value from wear. For families that keep emergency cash at home, a coin is in some ways more practical than a note.

What happens next

Three things will happen in the coming months.

First, the State Bank will begin printing the new currency notes and building up stocks. Governor Jameel Ahmad has said printing will start now that cabinet approval is in place, and the new notes are expected within about a year.

Second, the State Bank will announce the practical details of the Rs10 change: when the new coin enters circulation, when the Rs10 note stops being printed, and — most importantly — when old notes must be exchanged and by what deadline. None of those dates has been announced yet.

Third, the new notes will be released in phases, denomination by denomination, rather than all at once. The State Bank will communicate each step through its official channels.

Until those announcements come, the position is unchanged: Rs10 notes are legal tender, they should be accepted everywhere, and there is no deadline to exchange them. Anyone who hears otherwise on social media should check the State Bank’s website or the Prime Minister’s Office statement before acting.

Frequently asked questions

Is the Rs10 banknote cancelled now?

No. The cabinet has approved replacing it with a Rs10 coin, but no date has been set for the note to stop being legal tender. Rs10 notes remain valid and should be accepted as normal.

Do I need to exchange my Rs10 notes?

Not yet. No exchange deadline has been announced. The State Bank has said that if the note is ever withdrawn, the decision will be formally communicated and people will be given adequate time to exchange their notes.

When will the Rs10 coin come into use?

No date has been announced. The State Bank will communicate the implementation arrangements, including when the coin enters circulation, through its official channels.

When will the new currency notes be available?

The redesigned notes are expected within approximately one year, according to Business Recorder. The State Bank will release them in phases after building up sufficient stocks.

Why is the government doing this?

Two reasons: durability and cost. Coins last far longer than low-value paper notes, and the State Bank says the Rs10 note has become expensive to print relative to its value. The new notes also carry stronger security features to fight counterfeiting.

Will the new notes look different?

Yes. The cabinet has approved new designs reflecting Pakistan’s culture, history and development, including themes such as regional diversity, historical landmarks, women’s contribution to national development, and climate change. The new notes will also use modern materials.

What should I do if a shop refuses my Rs10 note?

The Rs10 note is still legal tender. If a shop refuses it, you can point out that no withdrawal has been announced, and report the matter to the State Bank if the problem continues.

Conclusion

The Rs10 banknote has been part of daily life in Pakistan for decades, and its replacement by a coin marks the end of an era for the country’s smallest paper note. But the change is a practical one, not a sudden one.

The cabinet has approved the direction: a durable Rs10 coin instead of a fragile Rs10 note, and a new series of banknotes with modern materials and stronger security features. The State Bank will now handle the details — printing, stocks, dates and deadlines — and it has promised to give the public proper notice before any note is withdrawn.

For now, the message to the public is simple. Keep using your Rs10 notes. They are still valid. Watch for official announcements from the State Bank about the coin and the new notes, and do not act on rumours on social media. The change is coming, but it will arrive gradually, with time to adjust.

Sources

• https://www.pakistanpoint.com/en/story/2283739/federal-cabinet-approves-designs-for-new-currency-notes.html
• https://bloompakistan.com/pakistan-to-scrap-rs10-note-new-currency-designs/
• https://bloompakistan.com/pakistan-approves-new-currency-note-designs/
• https://theglobaltimes.pk/category/business/news/end-of-an-era:-govt-approves-replacing-rs10-banknote-with-coin
• https://khabarwire.com/blog/rs10-coin-replaces-banknote-2026-11-04/
• https://www.pakgold.net/news/6868
• https://www.kuwaitup2date.com/pakistan-rs10-banknote-coin/

This article is for general information and education only. It is not legal or financial advice.