OFFICE OF THE
GOVERNOR
CIRCULAR NO. 973
Series of 2017
Subject
Demonetization of
Bangko Sentral New Design Series 100,000-Piso and
2,000-Piso Centennial Commemorative Notes
Pursuant to the authority of the
Bangko Sentral ng Pilipinas (BSP) under Section 57 of
Republic Act No. 7653, otherwise
known as the New Central Bank Act, and Monetary Board Resolution No. 1210
dated 20 July 2017, the Monetary Board approved the demonetization of the
New Design Series (NDS) banknotes consisting of 100,000-Piso and
2,000-Piso Centennial Commemorative Notes, which have served their
commemorative purpose. The demonetization schedule of the said banknotes are
as follows:
b.
From 2 August
2018 to 1
August 2019, the
100,000-Piso and
2,000-Piso Centennial Commemorative Notes may be exchanged with
authorized agent banks and the BSP at par with the New Generation Currency
(NGC) banknotes at full face value in the holder's desired denomination, and
without charge; and