Old banknotes good only until 2015

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Friday, January 4, 2013

THE Bangko Sentral ng Pilipinas (BSP) regional office here reminded the public that old banknotes will only be accepted until 2015 as they started the roll out of new generation bills.

Rosemarie Yunzal, BSP-Tacloban branch administrative division chief, said they will step up their information drive this year through forums and distribute posters about the new banknotes.

“The information campaign will reach out schools, businesses, and banks to ensure that everyone is informed about the new banknotes,” Yunzal said.


“The campaign will highlight the new and upgraded security features that we have incorporated on all our new generation banknotes to protect the public from counterfeiters and uphold the integrity of the Philippine banknotes,” she added.

The new money introduced December 2010 has been circulating in the region since early 2011. The new design series unveiled in 1985 will remain legal tender until next year, according to Yunzal.

She added that the start for the old banknotes demonetization will be announced by early 2014 and a transition period will be provided to the public.

The BSP’s demonetization program gives the public enough time to make a full transition to the new-generation currency. (Leyte Samar Daily Express)

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