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BSP Conducts Demonetization Briefing in Davao

06.05.2015

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo led a multi-sectoral briefing at the BSP Davao Regional Office to remind the public that the old banknote series launched in 1985 can only be used for daily transactions up to December 31, 2015.  Starting January 1, 2016, the old banknote series can only be exchanged in banks or at the BSP. Effective 2017, the series will be demonetized and can no longer be used in daily transactions nor exchanged at banks or at the BSP. Also in photo are Director Fe de La Cruz of the BSP Corporate Affairs Office and Acting Director Perry Dequita of the Davao Regional Office. The briefing was attended by retailers, bankers, representatives from transport groups, other government agencies, and members of the local press. Posters featuring the demonetization schedule were distributed to the participants. [Right photo] Also during the briefing, the BSP discussed security features of the new banknote series which was launched in December 2010.

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