NEW PESO BILL SHORTAGE THIS HOLIDAY SEASON

Image courtesy of www.philstar.com

Rumours about shortage of new peso bills for this upcoming holidays debunked by Banko Sentral ng Pilipinas (BSP).

“The supply of new peso bills is more than enough despite of the increasing demand of the exchange of new money this holiday season” says Ms. Fe Dela Cruz, Corporate Affairs of BSP.

Two billion new peso bills were printed and over 23 billion coins were made by the BSP for this particular season.

Old peso bills are usable only up to December 31, 2015 because of the demonetization. Demonetization is the withdrawal of a particular form of currency from circulation.

Although BSP states that people can still exchange their old banknotes to new ones until December 2016.

Here is a photo guide to distinguish between the old peso bills from the new ones:

Image courtesy of www.clarkisit.com/