BSP extends banks, OFW deadline to exchange old peso bills


Posted at Jan 16 2017 06:02 PM

MANILA - The deadline to exchange old peso bills held by authorized agent banks and overseas Filipinos has been extended, the central bank said Monday.

Authorized agent banks as well as municipal, city and provincial treasurers' offices have until June 30, 2017 to exchange or deposit to the Bangko Sentral ng Pilipinas all old notes deposited on or before March 31, 2017.

Overseas Filipinos, Filipino immigrants, and non-residents can also register until March 31, 2017 to exchange their old peso bills, the BSP said.

All old notes registered from October 1, 2016 to December 3, 2016 will be submitted for exchange within one year from date of registration at any BSP office while banknotes registered from January 1, 2017 to March 31, 2017 will be submitted for exchange until December 31, 2017, it added.

Overseas Filipinos in war-torn countries need not register and have until December 31, 2017 to exchange old peso bills.

The central bank earlier extended the public deadline to trade old peso bills for new ones to March 31, 2017.

Starting April 1, 2017, the old banknote series will no longer have value and cannot be exchanged for the new generation series, it said.