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BSP’s demonetization campaign bags award

The Bangko Sentral ng Pilipinas campaign on the demonetization of the old banknote series was selected as one of the three finalists under the category Best Communications Program in the 2017 Excellence in Currency Awards of the International Association of Currency Affairs (IACA). 

Introduced in 2007, the Currency Awards promote and recognize excellence in banknote and coin production, processing, management and distribution.

In the Best Communications Program category of IACA’s Excellence in Currency Awards, a total of 17 projects of various central banks/institutions were nominated.

The top three finalists for each category were honored during the Currency Conference in Kuala Lumpur, Malaysia last May 15.

The BSP launched a comprehensive information campaign to inform the public of the timeline and procedures for the exchange of their old banknote series (New Design Series, NDS) and to ensure the orderly shift to the New Generation Currency (NGC) banknote series.

The challenge was to roll out an information campaign in an archipelagic country with over 7,100 islands and comprised of a widely diverse demographic.

The BSP pursued institutional partnerships with key stakeholders to maximize dissemination and information pass-through.

Communication platforms used were community briefings, print collaterals, webpage posts, social media, overseas Filipinos online registration, cinema advertisements and media interviews in print, television and radio.

In relation to this, the BSP reminds the public to exchange their remaining old banknote series (NDS) until June 30 with the BSP or its authorized agent banks and financial institutions.

NDS banknotes, which have not been exchanged after 30 June 2017, shall cease to be a liability of the BSP and shall be demonetized.

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