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New currency note of RS.500 to be issued from 25 January

The State Bank of Pakistan today announced that all offices of SBP Banking Services Corporation will start issuing new Rs 500 note with an Optical Variable Ink (OVI) Feature from 25th January 2010.

According to a spokesman of the Central Bank, the new Rs 500 banknote with OVI feature will bear the signature of Syed Salim Raza, sitting SBP Governor.

The launching of Rs 500 banknote with OVI feature is part of SBP’s continuous efforts to improve the security, durability and aesthetic quality of banknotes.

The Optical Variable Ink (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 color from green to magenta and vice versa when Rs 500 banknote is viewed from different angles.

The introduction of OVI feature in Rs 500 banknote distinguishes it from the new design banknote of the same denomination launched in November 2006.

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