The federal cabinet is considering replacing the ten-rupee note with a coin, a move projected to save Rs 40-50 billion over the next decade.

A currency management report prepared by the State Bank of Pakistan and the Security Printing Corporation noted that a ten-rupee note lasts 6 to 9 months, while a coin can remain in circulation for 20 to 30 years. Currently, ten-rupee notes account for 35% of all notes printed annually, with yearly printing and administrative costs estimated at Rs 8-10 billion.

Although coins have a higher initial production cost, they do not require frequent replacement. The State Bank plans to phase out ten-rupee notes over three years. The ten-rupee coin was first issued nationally on October 24, 2016, and its replacement of notes will follow legal procedures under the State Bank Act.

The report highlighted that several countries, including the UK, Canada, and Australia, have already converted low-denomination notes into coins, and the move also supports green banking initiatives by reducing paper usage.