KARACHI: The State Bank of Pakistan (SBP) Monday issued new Rs500 banknotes with Optical Variable Ink (OVI) feature.The central bank on Saturday announced that all offices of the SBP Banking Services Corporation will start issuing new Rs500 banknotes from January 25.
The new Rs500 note bearing the signature of Syed Salim Raza, Governor State Bank of Pakistan. The launch of the new note with OVI feature is part of SBP’s efforts to improve security, durability and aesthetic quality of banknotes, the central bank said.
The OVI design appears at the obverse right side as the crescent and five-pointed star printed with the surrounded design of Intaglio Optical Variable Ink which changes colour from green to magenta and vice versa when Rs500 banknote is viewed from different angles. The introduction of OVI feature distinguishes the note from the banknote of the same denomination launched in November 2006.
The existing Rs500 banknotes will, however, continue to remain legal tender.
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