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!
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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