BSP to accept exchange of P100,000 and P2,000 commemorative bills until Aug. 1

MANILA - The Bangko Sentral ng Pilipinas (BSP) on Friday said owners of rare banknotes issued to commemorate the 100 years of Philippine independence have until August 1 this year to exchange their bills.

In a statement, the BSP said it will no longer accept the P100,000 and P2,000 Centennial Commemorative Notes starting August 2.

"These notes could be exchanged for New Generation Currency (NGC) banknotes at face value, free of charge, in authorized agent banks (AABs) and at BSP offices until 1 August 2019," it said.

The banknotes ceased to be legal tender on August 1, 2018 and will be demonetized starting August 2 after having served their "commemorative purpose."

BSP Statement on the Exchange of 100,000-Piso and 2,000-Piso Centennial Commemorative Notes for NGC Noteshttps://t.co/E02dUPFbOW pic.twitter.com/pzRG4JBOCL

— Bangko Sentral (@BangkoSentral) February 22, 2019

The P100,000 banknote, which featured Pres. Emilio Aguinaldo's proclamation of independence and the “Sigaw ng Himagsikan,” is the biggest legal tender issued by the BSP, both in terms of face value and size. Only 1,000 pieces of this banknote were issued.

The P2,000 bill meanwhile depicted the oath-taking of then President Joseph Estrada and the re-enactment of the declaration of independence by then President Fidel Ramos.