Bangko Sentral ng Pilipinas: Old Bank Notes to be Demonetized (Photo, Video)

Bangko Sentral ng Pilipinas: Old Bank Notes to be Demonetized (Photo, Video)

Bangko Sentral ng Pilipinas announced on Monday, December 29, 2014 that they will start withdrawing old bank notes from circulation starting January 1, 2015 until December 31, 2015.
The demonetization process of the old bank notes was revealed to the media by BSP Deputy Governor Diwa C. Gunigundo. Watch the full video aired by GMA7 news report.



According to the BSP’s announcement, the public may still use the old peso bills to buy goods and services in 2015, but these will be no longer accepted for payment starting January 1, 2016.
Here's the Video Report from GMA 7 News:



 And for public information:

You can still exchange the old bills for the new generation currency bank notes at various banks and BSP offices and branches around the country from January 1, 2015 until end of 2016.

And for those Filipinos who are living abroad who still have the old bank notes will be given a chance to exchange their old notes through the BSP website.

For more details visit www.bsp.gov.ph/, Bangko Sentral ng Pilipinas official website.