BSP extends deadline for the exchange/replacement of old note series (NDS) at par with the new note series (NGC) until 30 June 2017
The Monetary Board approved the extension of the deadline for the exchange or replacement of New Design Series (NDS) banknotes with the Bangko Sentral ng Pilipinas (BSP) or its authorized agent banks at par with New Generation Currency (NGC) banknotes and without charge to 30 June 2017.
BSP Extends the Period for the Exchange or Replacement of New Design Series Banknotes in the Custody of Various Stakeholders
The Monetary Board approved the extension of the period for the exchange or replacement of New Design Series (NDS) banknotes in the custody of (i) Authorized Agent Banks, (ii) Office of Provincial/City/Municipal Treasurers and (iii) Overseas Filipinos, Filipino Immigrants and Non-Residents (More...)
BSP Extends the Period for the Exchange or Replacement of New Design Series Banknotes at Par with the New Generation Currency Banknotes
The Monetary Board approved the extension of the deadline for the exchange or replacement of the old Philippine banknote series (also known as the New Design Series banknotes or the NDS), at par with New Generation Currency (NGC) banknotes and without charge, to 31 March 2017. The NDS banknotes may be exchanged with the Bangko Sentral ng Pilipinas or its authorized agent banks. (More...)
BSP Increases to Php 50,000 the Allowable Amount of New Design Series (NDS) Banknotes for Exchange by Each Overseas Filipino Under the NDS Banknote Exchange Facility
On 22 April 2016, the BSP issued Circular No. 910, Series of 2016, which provides guidelines for the New Design Series (NDS) Banknote Exchange Facility. The Circular included, among others the replacement/exchange of NDS banknotes from Overseas Filipinos (OFs) working abroad, who have in their possession NDS banknotes that could not be physically exchanged within the prescribed period of 1 January 2016 to 31 December 2016. Subsequent to this, the Monetary Board approved on 8 September 2016, the increase in the allowable amount to be exchanged by OFs under the NDS Banknote Exchange Facility from PHP10,000 to PHP50,000. (More...)
BSP Conducts Demonetization Briefing in Davao
BSP: Old Banknotes Good for Daily Transactions up to December 31, 2015
Bangko Sentral ng Pilipinas Deputy Governor Diwa C. Guinigundo today reminded the public that the old banknote series launched in 1985 can still be used for daily transactions up to December 31, 2015.
From January 1, 2016 up to December 31, 2016, the old banknotes can still be exchanged in authorized agent banks and the BSP Cash Department. However, starting January 1, 2017, the old banknote series will be fully demonetized or without monetary value..
BSP Announces the Replacement Process of Old Banknotes (New Design Series, NDS) with New Generation Currency Banknotes
The Bangko Sentral ng Pilipinas (BSP) announces today the start of the demonetization process on 1 January 2015 for the old banknotes (New Design Series, NDS) as part of its objective to preserve the integrity of Philippine currency. This move is in line with the provisions of Section 57 of Republic Act No. 7653, otherwise known as the New Central Bank Act, which authorizes the BSP to replace banknotes that are more than 5 years old. The NDS banknotes have been in circulation for almost three decades (More...)