OLD BANK note holders have until March 31 to exchange to Bangko Sentral ng Pilipinas before it loses value.
BSP Northern and Central Luzon Director Rogel Joseph del Rosario said they have extended the exchange period of old bank notes at the BSP office to give the public a chance to surrender old monetary series.
But for Overseas Filipino Workers (OFWs), migrants and non-residents can exchange their old bank notes until December 31 provided they register until March 31.
In addition, a registration made from October 1 until December 31, 2016 may be deposited within a year from the date of registration.
Del Rosario meanwhile said citizen’s old bank notes earlier rejected for deposit may directly call BSP and report the bank or authorized financial institutions which refused the demonetized bills.
The BSP official meanwhile urged the public to value the worth of money they have and take good care of the bills.
“We should not fold our bills, nor write anything on it or even dampen it. It loses its value. With those destroying our money intentionally, there are certain penalties like imprisonment,” Del Rosario said.
Meanwhile, BSP has launched about 10 million pieces of Asean commemorative coins in January during the launch of the Asean 2017 Chairmanship, held in Davao City which was unveiled by the President Rodrigo Duterte.
The issuance of coins is a way to remind the public and promote greater awareness of the country being one with Asean, said del Rosario.