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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Thursday, December 15, 2016

BSP reminds info officers on Dec. 31 deadline to swap old paper bills

TAGBILARAN CITY, December 15 (PIA)--The Bangko Sentral ng Pilipinas (BSP) reminded the information officers of the local government units and national government agencies about the December 31, 2016 deadline to swap holdings of New Design Series (NDS) paper bills.

During the general assembly meeting of the Association of United Development Information Officers in Bohol (AUDIO-Bohol) recently hosted by BSP, Bank Officer Hazel Cultura said the old NDS banknotes launched in 1985 will fully lose monetary value starting Jan. 1, 2017.

Cultura added that under Section 57 of Republic Act (RA) No. 7653 or the New Central Bank Act, the BSP may replace notes of any series that are more than five years old and coins that are more than 10 years old.

The BSP defines demonetization as “the process of removing the monetary value of a legal tender currency by the issuing authority.”
However, Cultura clarified that only paper bills are included in the latest demonetization.

She said holders of NDS can still exchange NDS paper bills at face value in banks, the Cash Department of the BSP and the various BSP offices nationwide.

For NDS notes that are subject of court cases, it can be exchanged within six months after the corresponding legal cases have been terminated.

Clerks of Courts and law enforcement agencies were given an extension to swap their NDS from end of December 2016 to January 31, 2017.

Meanwhile, for overseas Filipino workers (OFWs), they are also allowed to swap their NDS holdings outside of the period given to the public.

OFWs are required to register their NDS holdings with the central bank through online application at https://orbs.bsp.gov.ph that started last October 1. The NDS holdings can be swapped within a year after the registration.

OFWs are allowed to swap up to P50,000 worth of NDS holdings in line with the 11th foreign exchange liberalization of the central bank.

“For those who are situated in war torn countries, the deadline for exchange is extended to 31 December 2017. There is no need for them to register,” Cultura said. (ecb/PIA7-Bohol)

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