Up to when can we use these Old Philippine Money?

Effective January 1, 2017, we can no longer use old Philippine money or old peso bills. According to BSP (Bangko Sentral ng Pilipinas), the old banknotes that have not been exchanged shall no longer have monetary value. So it is suggested to exchange all your remaining old peso bills while they’re still valid.

Old Philippine Peso bills (Old Series) Validity

BSP Demonetization Schedule also announced and advised that old banknotes (Old Design Series) may be used in paying, buying goods/services and other cash transactions until December 31, 2015 only.

However, if you still have old banknotes after that date, no worries, for you can still exchange your old money in any local bank or any branch near your place until December 31, 2016.

To avoid confusions, I have saved this photo I saw at my favorite bank, Philippine National Bank. Thanks PNB!

old philippine money validity
photo credit: PNB

There are always times when we have to let go of old stuff but that doesn’t mean we forget their value and memories. Cheers to the new designs of new money! I’m sure there are lots of us who will keep some old money as souvenirs or to profit in the future.

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Fehl is the founder of Philpad and has been writing online for 12 years. She has a bachelor's degree in Accountancy and a background in Finance. She is a licensed Career Service Professional and author of a poetry book at Barnes & Noble. In her spare time, she likes to travel and discover new places.

14 thoughts on “Up to when can we use these Old Philippine Money?”

  1. I have about 70,000 pesos. Can I still exchange it? I brought these money when I came back from PI to US in 2013. I didn’t know that the old pesos had been replaced. I went back to PI in May this year. No one would accept my money. I’m so bummed. I was trying pay part of my brothers hospital bill with it. Not only that the value went down. I totally lost everything!

  2. Can I still exchange an old notes of philipine peso? I have about 6000 pesos. 10x 500 pesos and 1×1000 pesos. If can, where should I change this note?


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