Last chance to exchange old peso bills, BSP reminds public
ABS-CBN News
Posted at Dec 19 2016 12:04 PM | Updated as of Dec 19 2016 12:58 PM
http://news.abs-cbn.com/business/12/19/16/last-chance-to-exchange-old-peso-bills-bsp-reminds-public
MANILA – The Bangko Sentral ng Pilipinas reminded the public on Monday that they have only until the end of this year to trade old peso bills for new ones.
The old banknote series, launched in 1985, ceased to be accepted as legal tender from January 1, 2016 and the public was given the entire year to exchange them for the new generation series launched in 2010, said BSP Deputy Governor Diwa Guinigundo.
The old series was available in 5, 10, 20, 50, 100, 200, 500 and 1,000-peso denominations. The new notes, in 20, 50, 100, 200, 500 and 1,000-peso denominations, have brighter colors and featured younger portraits of the country’s heroes.
“Kung meron po sa ating mga kababayan na may naitatabing lumang serye, mayroon pa kayong 12 araw mula ngayon para maipalit,” Guinigundo told DZMM.
(If anyone is still holding on to the old series, you have 12 days from today to exchange them.)
Old notes can be exchanged in authorized banks or in 19 branches and three regional offices of the BSP, he said.
Guingundo said overseas Filipinos are exempted from the deadline, provided they register with the central bank online and exchange the money when they get home within one year.
Old bank notes used as evidence in court cases are also exempted, he said.
Guinigundo also urged the public to plan their bank withdrawals ahead to avoid the holiday rush.
“Kung tayo po ay mangangailangan ng pera, mag-withdraw po tayo. Kung hindi, uusok ang mga ATM. Mas mabuti kung magtatabi na tayo ng kakailanganin lalo na sa Pasko at Bagong Taon,” he said.
(Withdraw money when you need it to avoid crowding the ATMs. It’s better if we set aside the cash we will need for Christmas and New Year.)
