BSP: “The unnecessary accumulation of banknotes and coins prevents Philippine currency from being recirculated and used as payment instrument.” BSP — The Bangko Sentral ng Pilipinas warned the public that storing their money in containers could cause an “artificial shortage”. On Wednesday, the central bank urged the public to deposit their savings in formal accounts … Read more
The BSP wanted stiffer sanctions and penalties against coin hoarders and counterfeiters. BSP — The Bangko Sentral ng Pilipinas was proposing a more rigid package of sanctions and penalties against currency counterfeiting and to criminalize the stockpiling of large amounts of coins. According to BSP Governor Benjamin E. Diokno, they’re currently conducting preparatory work, which … Read more
BSP urged the public to carefully inspect banknotes dispensed by ATMs. BSP — The Bangko Sentral ng Pilipinas on Tuesday urged the public to carefully inspect banknotes dispensed by ATMs (automated teller machines). BSP reminded Filipinos to regularly inspect banknotes they received for authenticity through the “feel, look, tilt” approach as a precautionary measure against … Read more
The BSP was assuring the public of sufficient supply of banknotes for the holidays. BSP — The Bangko Sentral ng Pilipinas was assuring the public that there’s an adequate supply of new coins and banknotes in anticipation of the higher currency demand during the holidays. According to BSP Governor Benjamin Diokno, the peak of currency … Read more
The BSP will start the testing of polymer PHP 1,000 banknotes in 2022. BSP — The Bangko Sentral ng Pilipinas on Monday said that it will start the testing of polymer PHP 1,000 banknotes in 2022. On Monday, the central bank said that it will start the testing of PHP 1,000 polymer banknotes in 2022, … Read more
A man from South Korea used his microwave to disinfect his banknotes, lost most of his money instead. A man from South Korea shared photos of his “burned banknotes” after attempting to disinfect his money using a microwave. This, as the man, identified as Mr. Lee, has microwaved over 1.8 million South Korean won (equivalent … Read more
China to destroy banknotes from sectors with COVID-19 cases, according to a branch of China’s central bank in Guangzhou. China might destroy all banknotes in order to ensure the safety of cash transactions, according to a branch of China’s central bank in Guangzhou. Caixin on Saturday reported that the officials at the branch of the … Read more