‘Old bills’ still legal tender until Dec 2015 – BSP

BY VENUS MAY H. SARMIENTO
DAGUPAN CITY – The New Design Series (NDS) of Philippine money-now tagged as old bills remain legal tender until December 2015.
Anna Liza Catan, public information officer of the Bangko Sentral ng Pilipinas (BSP)-Dagupan branch, said the NDS can only be used in public transactions until next year only.
“Starting January 1, 2016, the NDS is no longer legal tender. However, it can be exchanged at the BSP or at any BSP-authorized agent bank until December 31, 2016,” Catan told the Philippine Information Agency.
By January 1, 2017, the NDS will cease to be a liability of the BSP and shall be considered demonetized, which means it can no longer be exchanged at the BSP or any BSP-authorized bank, Catan explained.
The BSP advised the public that only the New Generation Currency (NGS) or the ‘new bills’ can be used for transaction starting 2016. (MCA/VHS/PIA-1-Pangasinan)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s