The Bangko Sentral ng Pilipinas (BSP) on Tuesday warned the public against improper handling of peso bills and coins.
Citing penalties set under Presidential Decree No. 247, the central bank noted that “acts of defacement of Philippine currency” are prohibited.
“The Bangko Sentral ng Pilipinas warns the public that the willful defacement, mutilation, tearing, burning or destruction of Philippine banknotes and coins are punishable by a fine of not more than PHP20,000.00 and/or imprisonment of not more than five years,” the BSP said in a statement.
Among the prohibited acts of defacement are:
- writing or putting marks on banknotes
- tearing, burning, or destruction, in any manner, of Philippine currency
- causing multiple random folds across the entire banknote that affect its visual appearance
- excessive folding or crumpling that results in breakdown of the structure and limpness of banknotes
- exposing banknotes or coins to chemicals or other materials that accelerate defacement, destruction, or natural wear and tear
“The public is also discouraged to staple banknotes and/or use adhesives to put on banknotes and coins as these will compromise their structural integrity,” the central bank said.
Philippine “banknotes and coins are issued for circulation as medium of exchange and to utilize them for other purposes does not speak well of the due respect and dignity befitting our currency.”
The BSP is urging the public to report any information on improper handling of Philippine currency to the nearest police station or law enforcement agency, for appropriate action, or contact the Currency Management Sector for assistance at Tel. Nos. 988-4833 and 926-5092. —Anna Felicia Bajo/VDs, GMA News