July 18, 2018: ***DA Sec. Manny Pinol with Gov. Edgar Chatto, Vice Gov. Dionisio Balite, DA-7 RD Atty. Salvador Diputado and Talibon Mayor Restituto Auxtero led the launching of the 7th National Rice Technology Forum in Talibon town today. The forum highlights farming technology that allows farmers to be at the field to evaluate, assess and appreciate existing technology during the farming season with the aim to increase production and lower cost. ***DA Sec. Manny Pinol reiterated commitment to address high fish price by introducing more fish to Bohol market in the short term financing for fisherfolk, fish farming and cold storage facilities. ***DA Sec. Manny Pinol is guest at today's blessing and turnover of 55 fiberglass reinforced plastic pump boats with accessories in Loon town. The 55 boats will be distributed to beneficiaries in 31 coastal barangays of Loon which is part of the P2-M prize of the LGU for being among first 10 to register under Fish Registration (FishR) program of BFAR. ***Gov. Edgar Chatto and DA Sec. Manny PiƱol led the ribbon cutting rites to open the Agri-Fair 2018 at the Bohol APC Grounds. The fair will run until July 21, 2018.

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Monday, December 28, 2015

Old P5, P10 bills still legal tender until December 31

CORTES, Bohol December 26, (PIA) –Contrary to popular belief, the old P5.00 and P10.00 bills of the New Design Series (NDS) can still be legal tender until December 31, reminds the Bangko Sentral ng Pilipinas (BSP).

BSP, who is into dissemination of information on the demonetization of the NDS which started circulating since 1985 circulated reiterated that the NDS can still be used for ordinary payments of goods and services until December 31 this year.

This too as the BSP has already started flooding the markets with the New Generation Currency, the new design which had been introduced into the market since 2 years ago.

According to BSP’s Hazel Cultura BSP, the P5 and P10 peso bills are among the 8 paper bills set for taking out of circulation starting January 1 of 2016.

Speaking at the Kapihan sa PIA, Cultura stressed that the NDS which came out over 30 years ago, has to be demonetized and a new design reintroduced to keep off from counterfeiters who have upgraded their skills to fake money.

The move is also in line with section 57 of the Republic Act No. 7653, or the New Central Bank Act that authorizes the BSP to replace banknotes that are in circulation for more than 5 years.

With the New Generation Currency which replaces the NDS, it bears more security features that would be difficult to fake, Cultura assured.

Beginning January 1, 2016, all money that would be circulating would be from the NGC, which can be identified by looking at the note’s serial numbers.

If the serial numbers, which can be seen on the lower left and upper right sides of the banknote are asymmetrical, meaning the letters and the numbers increase in size and thickness, then you are looking at NGC.

The NGC also uses a new BSP logo, which now feature the Philippine eagle instead of the old usual wheel logo of the Central bank.

Security features include look, feel and tilt elements in the note.

The NGC uses cotton and abaca fibers, making the texture feel rough to the touch, and the new banknote features embossed prints in the Bangko Sentral ng Pilipinas, money value, signatures and value panels, Cultura points out.

After December 31 however, while the NDS can not be used in daily transactions, it can be exchanged for the same cost at any of the banks, until December 31, 2016, according to the BSP. (rac/PIA-7/Bohol)

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