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April 12, 2024

BSP urges vigilance amid misinformation on US dollar banknotes

The Bangko Sentral ng Pilipinas (BSP) clarified that it has not issued any directive setting a March 12 deadline, or any other date, regarding the acceptance of US Dollar banknotes with stamps.

The BSP urged the public to remain vigilant against misinformation circulating in online chat groups, as well as false claims made by entities impersonating the BSP.

Additionally, the BSP highlighted that it does not handle requests for the exchange or replacement of foreign currencies with the Philippine peso. Such transactions are managed by banks and money changers.

Those needing to exchange or replace their foreign currency are advised to visit banks and money service businesses authorized by the BSP to engage in money changing or foreign exchange dealing.

For a list of authorized institutions, please visit the BSP’s official website links provided below:

– Banks and Financial Institutions List: [https://www.bsp.gov.ph/SitePages/FinancialStability/DirBanksFIList.aspx](https://www.bsp.gov.ph/SitePages/FinancialStability/DirBanksFIList.aspx)

– Authorized Money Service Businesses: [https://www.bsp.gov.ph/Lists/Directories/Attachments/12/MSBs.pdf](https://www.bsp.gov.ph/Lists/Directories/Attachments/12/MSBs.pdf)

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