Understanding Demonetized Coins in the Philippines

Explore which coins are demonetized in the Philippines and how to stay updated.

48 views

In the Philippines, several coins have been demonetized, particularly those from the old BSP coin series. Coins such as the 1-, 5-, 10-, and 25-sentimo, as well as 1-peso coins issued before 2018 have been withdrawn from circulation. Always check the latest updates from Bangko Sentral ng Pilipinas for the most current information.

FAQs & Answers

  1. What is demonetization? Demonetization is the official withdrawal of a coin or banknote's status as legal tender, often to combat inflation or replace outdated currency.
  2. Which coins were demonetized in the Philippines? In the Philippines, the 1-, 5-, 10-, and 25-sentimo coins, along with 1-peso coins issued before 2018, have been demonetized.
  3. Where can I find information about demonetized coins in the Philippines? For the latest updates on demonetized coins, check with the Bangko Sentral ng Pilipinas (BSP) for accurate and current information.
  4. What should I do with demonetized coins? Demonetized coins can no longer be used for transactions; however, they may be exchanged at designated financial institutions or the BSP for newer currency.