BSP teaches Lagunenses on importance of 'clean money'
OpinYon Laguna

BSP teaches Lagunenses on importance of 'clean money'

Feb 26, 2024, 2:33 AM
Opinyon Laguna News Team

Opinyon Laguna News Team


The Bangko Sentral ng Pilipinas' (BSP) drive against "dirty money" is not just aimed at money held by criminal syndicates, but also against literally worn-out, mutilated or stained banknotes.

As part of its efforts to encourage ordinary Filipinos to abide by its "Clean Note and Coin Policy," the BSP Southern Luzon Regional Office conducted an Information Caravan with select media personnel and information officers at the iMall in Barangay Canlubang, Calamba City, Laguna on February 20.

During the event, BSP Regional Director Atty. Tomas J. Cariño Jr. said that disseminating information about financial matters and combating money counterfeiting are some of the functions of the BSP.

By visiting various regions and spreading awareness, BSP said that they are helping to safeguard the public from falling victim to financial fraud and counterfeit schemes.

Also conducted during the drive was the "PISO Caravan'' where Lagunenses can exchange dirty, mutilated or worn-out banknotes for new ones.

Clean Note Policy

The information caravan is part of the BSP's continuous implementation of the "Clean Note and Coin Policy," which aims for the effective removal of unfit and mutilated currency to maintain the integrity of Philippine banknotes and coins.

According to BSP, banknotes are classified as "unfit" if they are heavily soiled, crumpled, stained, and with obvious markings or writings and faded printing.

Meanwhile, banknotes are classified as "mutilated" if they are charred, decayed, torn to pieces, or are being held by adhesive tape or staplers.

BSP also advised those who wish to have their banknotes exchanged that notes belonging to the "New Design Series" (printed from 1985 to 2013) have been demonetized since 2017 and are no longer accepted for exchange.

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