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BSP urges public to use new currency

By: Christine Estrella February 06,2014 - 07:24 AM

The Bangko Sentral ng Pilipinas (BSP) called on the public to help circulate new money bills  as part of their clean note policy.

“The public should change the practice of paying using unfit and mutilated notes. They should circulate and use  new notes instead of keeping them,” said BSP Bank Officer Hazel JC Arante at the Kapihan sa PIA forum yesterday.

She cited as examples money bills  that are crumpled or bear  written  marks which can be replaced by the bank with new ones.

Arante said the circulation of clean notes will help identify  genuine currency from  counterfeit notes.

There are new  security features in P500 and P1,000 bills.

The P500 bill  has an optically variable device patch composed of a reflective foil that bears a small BSP logo and a blue-naped parrot while the P1,000 notes bears the image of the South

SEA PEARL

The  ink in P1,000 notes in the embossed “1000” changes color when viewed at different angles.

Arante also said the release of the P20 billion equity infusion of the Department of Budget and Management (DBM) will enchance the delivery of credit to private sector, particularly the micro, small and medium-scale enterprises (MSMes).

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TAGS: bank notes, BSP, money, new
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