BANGKO SENTRAL NG PILIPINAS
OFFICE OF THE GOVERNOR
CIRCULAR NO. 977
Series of 2017
Subject Establishing a New Deadline for the Replacement
or Exchange of New Design Series (NOS) Banknotes directly with the Bangko
Sentral ng Pilipinas (BSP) at par with New Generation Currency (NGC)
banknotes and without charge, until 29 December 2017
The Monetary Board, in its Resolution No. 1807 dated 26
October 2017, established a new deadline of 29 December 2017 (last working
day of the year) for the replacement or exchange of NDS banknotes from the
general public, at the BSP Cash Department, Regional Offices and Branches.
The BSP shall allow the exchange of demonetized NDS banknotes in cash to a
maximum amount of Php 100,000.00 per transaction. NDS exchange for larger
amounts may be allowed but payable only by check or direct credit to a bank
account.
After 29 December 2017, the pertinent provisions of
BSP
Circular No. 910 dated 22 April 2016 concerning NDS banknotes subject of
pending cases and in the custody of Offices of Clerks of Court and law
enforcement agencies shall remain in effect.
This Circular shall be effective immediately.