LAHORE – As Eidul Fitr approaches, demand for new currency notes has surged alongside the seasonal shopping for clothes and shoes.

Reports banks are providing new notes under limited availability and strict conditions, prompting many to turn to the open market to meet their needs.

In major markets and along busy streets, new currency notes are being sold at significant premiums.

Reports indicated that a bund of 10-rupee note is being sold for Rs1,600-17,00 while 20-rupee notes are available for Rs2,700-2,800.

Similarly, the shopkeepers in open market are charging Rs1,000 premium on a bundle of 50-rupee notes while and 100-rupee notes for Rs800-1,000.

Consumers said that new notes are an essential part of Eid gifting and celebrations, as old notes do not give the same festive impression when paired with new clothes and shoes.

Authorities have yet to comment on measures to regulate the surge in demand and curb the black-market sale of currency notes.