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What will happen to the existing currency in circulation?

April 26, 2017circulation currency existing

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What will happen to the existing currency in circulation?

1 Answer

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The present banknotes will remain in circulation and will continue to be accepted as legal tender for at least three more years. Based on previous currency retirement or demonetization program of the BSP, this will give enough time for the public to make a full transition to our new generation currency. A separate schedule will be followed for coins. Appropriate announcements will be released before and after the introduction of our new banknotes and coins to guide the public and ensure a smooth transition to our new currency. 8.