OFWs given more time to exchange old pesos for new

FILIPINOS living and working overseas who still have old peso bills in their possession will be given more time to exchange them for the new bank notes, the Bangko Sentral ng Pilipinas (BSP) said.

In a recent circular, the BSP said overseas Filipinos workers as well as local government treasurers, clerks of court and law enforcement agencies that would be geographically and legally constrained from personally exchanging New Design Series (NDS) bank notes with New Generation Currency (NGC) by Dec. 31 this year would still be accommodated beyond the deadline as long as they follow BSP procedures.

In the case of overseas Filipinos, they must register their NDS bank note holdings on the BSP website between Oct. 1 and Dec. 31.

The NDS bank notes that Filipinos abroad will register must then be exchanged with NGC bank notes within one year from the date of registration at any of the 23 BSP offices across the country that accept old bills for replacement.  Ben O. de Vera