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).