The Bangko Sentral ng Pilipinas (BSP) has extended the exchange of old banknotes to the new series until March 31, 2017 to accommodate requests of many to move the December 2016 deadline.
The BSP advised that anyone who wishes to exchange their old banknotes may go directly to BSP or any BSP-accredited banks.
Overseas Filipino Workers (OFW) may exchange old banknotes until the end of the year, given that they register to the bsp.gov.ph by December 2016. Moreover, there is a limit of P10, 000 exchange for OFWs.
By April 1, old banknote series is deemed of no monetary value and cannot be used for purchase or transaction. The old series was launched in 1985, replacing it is the new banknote series launched in 2010.