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BSP Extends the Period for the Exchange or Replacement of New Design Series Banknotes at Par with the New Generation Currency Banknotes

12.28.2016

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.

This recent decision of the Monetary Board to extend the period of exchange from end-December 2016 to end-March 2017 was in response to public clamor to extend the deadline by which to exchange their old banknote series. After 31 March 2017, the NDS banknotes which have not been exchanged shall cease to be a liability of the BSP and shall be demonetized.

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