MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has issued its final reminder to those who are still in possession of old bills — that the deadline for swapping will be until June 30, 2017 — no more extension.
The BSP said it has given consumers enough time to exchange their old notes with the newly-designed bills. The deadline was originally set last January 1.
However, BSP decided to give consumers ample time and moved the deadline to March 31, only to be extended again to June 30.
“There are no plans to extend the deadline now. The demonetization will end on June 30 this year,” BSP Governor Amando Tetangco Jr. told the media on Tuesday.
In a separate interview over DZMM, BSP Deputy Governor Diwa Gunigundo clarified overseas Filipino workers (OFW) who were able to register their old notes online have until December this year to exchange them with the new ones.
For those, who will fail to swap the old bills, Gunigundo said they may have no other choice but to keep them as souvenirs.