As the holy festival of Eid-ul-Fitr approaches, many in Pakistan are preparing for the traditional practice of giving Eidi, which often involves fresh currency notes. However, this year, the State Bank of Pakistan (SBP) has made a significant announcement that will alter these customary practices.

On March 6, 2026, the SBP confirmed that it will not issue newly printed currency notes for Eid-ul-Fitr. This decision marks a departure from previous years when citizens could obtain fresh notes through designated bank counters and an SMS service. The central bank has stated that banks will instead provide clean and ATM-fit notes from their existing stock.

The usual distribution system for new currency notes through Eid counters will not take place this year, which has raised concerns among the public. The SBP has urged citizens to obtain notes only through authorized banks and to avoid illegal sellers, emphasizing the importance of relying on official channels for such transactions.

In a statement, the SBP noted, “The SBP has confirmed that newly printed currency notes will not be issued through the usual Eid counters this year.” This announcement has prompted many to reconsider how they will participate in the tradition of giving Eidi, as the absence of fresh notes may impact the way families celebrate.

Additionally, the SMS service that previously allowed citizens to request new currency notes will not operate for Eid-ul-Fitr 2026. The SBP has also indicated a shift towards promoting digital payment methods and e-wallets, reflecting a broader trend in modern banking practices.

The central bank has advised the public to ignore unverified claims regarding the availability of new currency notes and to rely solely on official statements for accurate information. As the festival approaches, many are left wondering how the lack of newly printed notes will affect their traditional celebrations.

Overall, the decision by the SBP not to issue new currency notes for Eid-ul-Fitr 2026 is expected to have a significant impact on the customary practice of giving Eidi. Families may need to adapt their traditions in light of these changes, which could reshape how the festival is celebrated this year.

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The State Bank of Pakistan (SBP) has confirmed that it will not issue fresh currency notes for Eid ul Fitr 2026. This announcement was made on March 3, 2026, through an official notice.

Instead of newly printed notes, banks will provide clean and ATM-fit notes from their existing stock. The usual distribution of new banknotes through commercial banks and special counters will not take place this year, marking a significant change in the traditional practices surrounding the holiday.

In previous years, citizens could obtain fresh currency notes via an SMS service and designated bank branches. However, the SBP has stated that the SMS service 8877 and dedicated counters for obtaining fresh notes will not operate for Eid ul Fitr 2026.

As a result, citizens are encouraged to utilize digital payment methods and e-wallets for their Eid transactions. This shift aligns with the SBP’s broader goal of modernizing the financial ecosystem and reducing reliance on newly printed cash.

The absence of newly printed notes may alter the long-standing practice of giving Eidi in many households this year. The SBP has acknowledged that this decision could cause inconvenience to the public.

Moreover, the SBP has emphasized that authentic information regarding new currency notes will only be communicated through official announcements. Street vendors selling bundles of crisp banknotes at inflated prices before Eid are engaging in illegal practices, further complicating the situation.

The SBP uses press releases as its sole method for public communication, ensuring that all updates are disseminated through official channels. The decision not to issue new notes has been met with mixed reactions from the public, with many expressing concern over the impact on traditional gifting practices.

Overall, the SBP’s decision reflects a significant shift in how financial transactions will be conducted during the festive season, highlighting the increasing importance of digital solutions in everyday life.

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XRP, the native cryptocurrency of the Ripple network, has gained significant attention in the financial world due to its potential to revolutionise digital payments. As global interest in cryptocurrency continues to expand, the discussion around XRP has become increasingly relevant, especially following pivotal legal developments and market fluctuations.

XRP’s Rise and Legal Battles

XRP was created to facilitate fast, low-cost international money transfers and has been touted as a bridge currency that could enhance the remittance industry. However, its journey has been marred by a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) in December 2020, which claimed that XRP should be treated as a security rather than a currency. This legal battle has created uncertainty in the market and led to significant price volatility.

Recently, a federal judge ruled that XRP’s sales to retail investors did not constitute securities transactions. This ruling provided a momentary boost to XRP’s price and approval from some members of the crypto community, highlighting the potential for XRP to operate independently of regulatory interference.

The Current Market Scenario

As of October 2023, XRP’s price has experienced a steady increase following the recent legal developments, asserting its position within the top 10 cryptocurrencies by market capitalisation. Analysts suggest that the increased clarity on XRP’s legal status could lead to increased institutional adoption and integration into existing financial systems.

Moreover, Ripple’s continuous innovations, such as expanding partnerships with financial institutions and enhancing its liquidity solutions, position XRP as a strong contender in the evolving digital currency landscape. Governments and regulatory bodies around the world are progressively recognising the necessity for cryptocurrencies, and XRP may find itself at the forefront of this transformation due to its efficient transaction model.

Conclusion

The ongoing developments surrounding XRP serve as a significant bellwether for the broader cryptocurrency ecosystem. As digital payments become more prominent in global finance, XRP’s potential to simplify cross-border transactions could play a crucial role in the future of payment networks. For investors and stakeholders, the current legal clarity presents a unique opportunity to engage with a cryptocurrency that could redefine conventional financial practices. Maintaining a vigilant perspective on regulatory updates and market trends will be essential as the world increasingly leans towards digital currencies.

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