The Bangko Sentral ng Pilipinas (BSP has reminded the public regarding the demonetization of old banknotes belonging to the New Design Series (NDS), as part of BSP's objective to preserve the integrity of the Philippine currency. The NDS Banknotes are being replaced with New Generation Currency banknotes with new and enhanced security features to protect the public against counterfeiters.

Attached is the press releases from the BSP website (www.bsp.gov.ph) whice outlines the timeline for the demonetization of the old banknotes. 

Filipinos abroad, who have in their possession NDS banknotes which could not be exchanged within the prescribed period, may register online starting 1 October 2016 until 31 December 2016 through BSP website. These NDS banknotes may be exchanged with the BSP within one year from date of registration.

Starting 1 January 2014, NDS banknotes that have not been exchanged shall no longer have any monetary value, and are considered demonetized.