The Bangko Sentral ng Pilipinas (BSP) reminds the public of the January 25 deadline for conversion of 12 European currencies to Philippine pesos. Since October 1, the BSP has exchanged P 23 million worth of old European banknotes, most of it in Deutsche marks, French francs, Netherlands guilders, Belgian francs and Italian lire. Other currencies being converted are Austrian schillings, Finnish markkas, Irish punts, Luxembourg francs, Greek drachmas, Portuguese escudos and Spanish pesetas. These national currencies have been withdrawn from circulation following the adoption of a single currency called the Euro.
As a public service, the BSP has been assisting banks in converting these currencies to pesos at its Cash Department at A. Mabini, Malate, Manila from Monday to Friday, 9:00 AM to 12:00 noon and 1:00 – 2:00 PM. Outside Metro Manila, the Cash Operations Units of the BSP are located in the following areas: Luzon – San Fernando, La Union, Angeles City, Batac, Ilocos Norte, Cabanatuan City, Dagupan City, Legaspi City, Lucena City, Naga City, Tuguegarao, Cagayan; Visayas – Cebu City, Bacolod City, Dumaguete City, Iloilo City, Kalibo, Aklan, Tacloban City; Mindanao – Davao City, Cagayan de Oro City, Cotabato City, Zamboanga City. After January 25, 2002, the said European currencies may be redeemed only at the country of origin.