Some sections of social media were found challenging the authenticity of Rs. 500 currency notes circulating in open market. The State Bank of Pakistan has responded to such reports and issued a clarification by declaring those currency notes without OVI (Optical Variable Ink) flag as legitimate.

The central bank said that it had introduced new design banknotes of Rs. 500 value in 2006. These banknotes carry state of the art security features, besides, change in size, design and colour scheme.

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Later on another security feature, the colour shifting flag made of Optical Variable Ink (OVI) was added to enhance the anti-counterfeiting resilience and ease in identification by the general public.

This move resulted in availability of both types of Rs. 500 currency notes; issued during 2006-2009 without OVI and issued w.e.f January 25, 2010 with OVI feature.

“It is, therefore, clarified for benefit of all concerned that new design banknotes of Rs 500, with and without OVI flag, are genuine provided all other security features are intact”, said the central bank of Pakistan.

It said that everyone is encouraged to learn more about the security features in Pakistani banknotes through SBP’s official website.