The Bangko Sentral ng Pilipinas (BSP) said Tuesday that consumers need not replace their bifold wallet as folded banknotes, including the new polymer 1,000-peso bill, are legal tender and should be accepted in local transactions nationwide. Know more:
The Bangko Sentral ng Pilipinas said Tuesday that consumers need not replace their bifold wallet as folded banknotes, including the new polymer 1,000-peso bill, are legal tender and should be accepted in local transactions nationwide.In a public advisory, the BSP said folded banknotes, whether paper or polymer, can still be circulated and accepted for payment.
“The BSP stresses that the above guidelines apply to both paper and polymer banknote. The handling guidelines were issued to raise public awareness on the proper use of polymer and paper banknotes to safeguard their integrity and prolong their lifespan,” the BSP said in a statement. Earlier this month, the BSP announced that it has launched a webpage to increase public awareness of the new 1000-Piso polymer banknote.
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