The Philippines starts demonetization of old series

As mentioned in a post on 1 January 2014 the Philippines have started the demonetization process of its old banknote series. The Bangko Sentral ng Pilipinas (BSP: the Central Bank of the Philippines) has announced this step in this press release

"The Bangko Sentral ng Pilipinas (BSP) announces today the start of the demonetization process on 1 January 2015 for the old banknotes (New Design Series, NDS) as part of its objective to preserve the integrity of Philippine currency."

The NDS banknotes can be used until the end of 2015. 

Steven Friday 02 January 2015 at 09:34 am | | news
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