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April 19, 2024

BSP Warns Public Against Selling or Trading New Polymer Banknotes, Emphasizes Its Use for Payments and Transactions

The Bangko Sentral ng Pilipinas (BSP) has issued a warning to the public that the new 1000-Piso polymer banknote should not be sold, traded, or bought for any other amount than its face value.

It also emphasized that it can be used for payments and transactions, along with the current 1000-Piso paper banknote.

The BSP has released the new banknote in phases starting April 2022 to respond to public health and safety concerns due to the COVID-19 pandemic, promote environmental sustainability, and deter counterfeiting.