Rs10 Coin to Replace Rs10 Banknote as Cabinet Approves New Notes

The Rs10 coin is set to replace the Rs10 banknote after the federal cabinet approved the change at a meeting in Islamabad on Wednesday evening.

The cabinet, chaired by Prime Minister Shehbaz Sharif, approved the Rs10 coin on the recommendation of the Ministry of Finance, according to a statement issued by the Prime Minister's Office. In the same meeting, the cabinet approved the designs of a new series of currency notes, in what officials described as a wider reform of Pakistan's currency.

The Rs10 coin decision has been coming for some time. The State Bank of Pakistan had earlier suggested the change because producing Rs10 notes had become relatively expensive. State Bank Deputy Governor Dr Inayat Hussain informed the Senate Standing Committee on Finance in August that manufacturing Rs10 notes was costly, and low-value notes wear out far faster than coins.

That durability argument is at the heart of the Rs10 coin switch. Coins of low denominations last much longer in circulation than paper notes of the same value, which means the government has to print replacements far less often. Officials told the cabinet that modern materials and improved security features would also make the new currency harder to copy and cheaper to maintain over time.

Rs10 coin: what happens to your old notes

The most important detail for the public is that no date has been set for the Rs10 banknote to stop being legal tender, and no exchange deadline has been announced. The change is expected to happen gradually after the redesigned banknotes are introduced, so there is no rush for anyone holding Rs10 notes to exchange them.

The government has not announced a timetable for withdrawing the existing notes or for introducing the redesigned currency. That means, for now, daily life does not change: Rs10 notes in wallets and tills remain as they are, and the Rs10 coin will enter circulation alongside the process of replacing worn-out notes.

The Rs10 coin itself is not entirely new to Pakistanis. The State Bank issued a Rs10 coin on October 24, 2016: yellow, round, 25.5 millimetres across and weighing 5.50 grams, with the Faisal Mosque on the reverse. The bank's currency guide lists regular coins of Rs10, Rs5, Rs2 and Re1 as already in issue. What the cabinet has now decided is different: the paper Rs10 note will be phased out, leaving the coin as the standard form of the denomination.

Rs10 coin: the new currency series

The Rs10 coin decision is part of a currency redesign project that has been running for years. The State Bank began designing a new series in January 2024 and opened an art competition in March 2024, covering the seven paper denominations from Rs10 to Rs5,000. A jury of artists shortlisted six designs for each denomination for the bank to choose from.

The cabinet was told that artists and designers from across Pakistan had been invited to suggest new banknote designs, and that a special cabinet committee set up by the prime minister had held detailed consultations with stakeholders, economists and financial institutions before finalising its recommendations.

The new notes are expected to carry advanced security threads and other modern features to prevent counterfeiting, along with themes reflecting Pakistan's history, culture and diversity. The proposed designs are expected to include historical landmarks, regional identities, women's contributions to national development and themes related to climate change.

Printing capacity is being prepared alongside the designs. Security Papers Limited 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.

In the same cabinet meeting, the government also ratified the defence cooperation agreement between Pakistan and Kuwait, according to the Prime Minister's Office handout. The currency decisions, however, are the ones that will touch every household.

What happens next depends on the State Bank. The bank will need to announce the timetable for the new notes and the Rs10 coin rollout, and reveal the final designs. Until then, the key facts are simple: the cabinet has approved the change, the old notes have no withdrawal deadline yet, and the coin is coming.

Rs10 coin: frequently asked questions

Will the Rs10 banknote stop working immediately after the Rs10 coin decision? No. No date has been set for the Rs10 banknote to stop being legal tender, and no exchange deadline has been announced. The change will happen gradually.

Why is the Rs10 coin replacing the banknote? Because Rs10 notes are expensive to produce and wear out quickly. The State Bank told a Senate committee in August that manufacturing Rs10 notes was costly, and coins last much longer in circulation.

What will the new Rs10 coin look like? The design of the new coin has not been revealed yet. An earlier Rs10 coin issued in 2016 featured the Faisal Mosque, but the cabinet has not announced the design of the coin that will replace the banknote.

Are new currency notes coming too, alongside the Rs10 coin? Yes. The cabinet approved designs for a new series of notes across seven denominations, from Rs10 to Rs5,000, with stronger anti-counterfeit security features and modern materials.

Do I need to exchange my Rs10 notes now? No. With no deadline announced, there is no rush to exchange old notes. Wait for the State Bank's timetable.