News
Eid Boosts Demand for New Banknotes, Rates Climb
With Eid-ul-Fitr 2026 approaching, demand for fresh currency notes has sharply increased across Pakistan, driving up open market prices as banks struggle to meet public demand. Many people seeking crisp notes for Eidi have turned to informal markets, where bundles of Rs100 notes worth Rs10,000 are now being sold for Rs10,700 to Rs11,000, meaning buyers pay an extra Rs700 to Rs1,000 over the face value. The surge comes as the final ten days of Ramadan intensify preparations for the festival, with families buying gifts, sweets, and cash to distribute to children and relatives. This yearly trend highlights the cultural importance of Eidi and the strong preference for new, uncirculated notes during festive occasions. Market sources say the demand is likely to remain high until the end of Ramadan, as people prioritize presenting fresh notes to loved ones. Banks and currency dealers are making efforts to supply notes, but limited availability continues to push open market prices upward.