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

By Venus May H. Sarmiento, PIA I, Pangasinan

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.#