The Bangko Sentral ng Pilipinas or BSP reminds the public that they will only exchange old bank notes until March 31 of this year.
Old banknotes will not be honored for transaction after the said date and this will be replaced by the new generation currency issued in 2010.
The old-generation bills, called New Design Series, were not allowed for transaction beginning January 1, 2016 but they can be exchanged at authorized banks until the end of this month.
Demonitization is a process done by Bangko Sentral to prevent forgery. — UNTV News & Rescue