HomeCalendarFAQSearchMemberlistUsergroupsRegisterLog in

Display results as :
Rechercher Advanced Search
Latest topics
» 1907-S one peso, rare or common?
Sun Apr 08, 2018 7:36 am by Rebelde

» Looking for a One peso 1906s coin?
Sun Apr 08, 2018 7:30 am by Rebelde

» Coin Shops within Metro Manila
Wed Apr 04, 2018 11:28 pm by Ghiem

» Auction Results
Tue Apr 03, 2018 3:06 pm by Ghiem

» What is the fair value of the 1828 manila 8 Reales in PCGS XF40
Tue Apr 03, 2018 3:04 pm by Ghiem

» BNSP Auction
Tue Apr 03, 2018 3:03 pm by Ghiem

Tue Apr 03, 2018 3:02 pm by Ghiem

» Cleaning coins / bank notes
Tue Apr 03, 2018 2:06 pm by Ghiem

» Philippine Future Bullion Coins
Tue Apr 03, 2018 1:57 pm by Ghiem

Top posters
Most Viewed Topics
Philippine Future Bullion Coins
United States Coins
Quiapo Coin Prices
Dos Mundos/ 8 Reales Columnario real/fake?
How rare is this coin? and value please..
Philippine Gold Coins
What is the fair value of the 1828 manila 8 Reales in PCGS XF40
BNSP Auction
Bayanihan Collectors club Auction May 30, 2010
Cleaning coins / bank notes
Most active topics
United States Coins
Philippine Future Bullion Coins
Quiapo Coin Prices
Dos Mundos/ 8 Reales Columnario real/fake?
Philippine Gold Coins
How rare is this coin? and value please..
Cleaning coins / bank notes
Auction Results
What is the fair value of the 1828 manila 8 Reales in PCGS XF40
Most active topic starters
Rudi Smits

Share | 

 BSP Timetable to Phase Out Old Notes

Go down 


Posts : 83
Points : 37692
Reputation : 2
Join date : 2009-09-04

PostSubject: BSP Timetable to Phase Out Old Notes   Wed Sep 21, 2011 7:37 am

Old peso bills demonetized by 2014


abs-cbnNEWS.com | 09/21/2011 2:20 AM

MANILA, Philippines – Philippine peso bills bearing the old design will be demonetized by 2014, the Bangko Sentral ng Pilipinas (BSP) said.

"Pag-dating ng end ng 2014, sa bangko mo nalang maiipapalit ‘yun, hindi mo na magagastos ‘yun,” said BSP deputy governor Diwa Guinigundo.

According to BSP Manager Grace Malic, 702 million pieces of new bills [12] were printed by BSP this year, but the bills will be gradually issued.

“We are still in the initial phase. As the year goes on, then we can add to the circulation,” Malic told ANC’s “The Rundown” on Tuesday.

More bills are expected to be printed next year as new printing machines arrive.

By 2013, 75% of money in circulation will be of new design. There is also a plan to change the design of some coins in 2013.

“We are already in the process of conceptualizing the new design of the coins but we still have to complete the demonetizing process of the bills before we move into coins. There are so many coins in circulation,” said Malic.

The BSP noted that the new design of the P20 bill, where the name of the President is printed as “Benigno S. Aquino”, is not a mistake.

BSP said it is the President’s preference to use his second name “Simeon” as his middle initial instead of Cojuangco.

"Ang ating pangulo, si President Aquino, ang kanyang desisyon ay gamitin ang kanyang pangalan na Simeon bilang middle name. ‘Yan ay kinikilala ng lahat ng ahensya ng gobeyrno,” said Guinigundo.

The BSP added that it has no plans of recalling the bill.

Several store owners, meanwhile, have a difficult time dealing with customers who refuse to accept the new bills.

“Tinanggihan talaga niya, hindi niya tinanggap,” said a store owner.

This is the reason why some business establishments also refuse to accept new bills.

"Hindi naming tinatanggap ‘yung bago. ‘Yung luma ‘yung gusto namin e,” said one sales lady. -- Report from Zen Hernandez, ABS-CBN

as of 09/21/2011 2:20 AM

Back to top Go down
BSP Timetable to Phase Out Old Notes
Back to top 
Page 1 of 1
 Similar topics
» Phase Splitter Tubes and Effect on Sound?
» The Proxy Phase
» Radiola 60 alignment, service notes?
» Masashi Kishimoto: Naruto’s Story is at Final Phase
» Star Trek Phase II (1975-1978)

Permissions in this forum:You cannot reply to topics in this forum
 :: Coins & Banknotes :: Philippine Banknotes :: All About Notes-
Jump to:  
Free forum hosting | © phpBB | Free forum support | Contact | Report an abuse | Forumotion