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Wednesday, January 11, 2017

BSP Extends Old Banknotes Demonetization Deadline

If there are second chances in this world, then this notice sure is one. The Bangko Sentral ng Pilipinas (BSP) has announced recently (during the last week of December 2016) that they are extending the demonetization deadline of the Philippines’ Old Banknote Series for three months. This was to give the people another opportunity to exchange their old peso bills in the banks for new banknotes before it ultimately lose its monetary value. Thus, your old peso bills may still be exchanged until March 31.
  
Extended Demonetization Schedule of Old Banknote Series

It can be recalled that in early 2015, it was announced by BSP that the Old Banknote Series can only be used for exchanging commodities until the end of 2015. By 2016, these old banknotes can only by exchanged in banks and BSP offices. And starting January 1st of 2017, the newer banknote series should only have monetary value.

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