₱150 banknote is fake – BSP

The Bangko Sentral ng Pilipinas (BSP) said on Thursday, Feb. 2, that they have not issued a new banknote in the denomination of ₱150 and warned the public of the fictitious bill circulating in social media. In an advisory, the BSP denied such reports of a new banknote and is encouraging the public to report persons involved in the manufacture and distribution of counterfeit currency to the BSP Payments and Currency Investigation Group at email address pcig@bsp.gov. ph or through telephone numbers +63-28988-4833 and +63-2-8926-5092. “(BSP) has not released a 150-Piso denomination banknote featuring Dr. Jose Rizal. Images of the said banknote circulating on social media are fictitious,” the BSP said. “The public is advised to always check the legitimacy of information found on social media and other channels regarding Philippine banknotes and coins. To verify, visit the Notes and Coins section of the BSP’s official website www.bsp.gov.ph,” it added. There are only five banknotes in circulation. These are the ₱50, ₱100, ₱200, ₱500 and ₱1,000. Since April 2022, the polymer version of the ₱1,000 is also in circulation. The BSP since 2020 -- when amid the height of the pandemic, counterfeit money became more rampant – has been aggressively going after perpetrators of fake banknotes production. With law enforcement agencies such as the National Bureau of Investigation, the BSP has been actively conducting joint anti-counterfeiting operations. Under Republic Act No. 10951, those convicted as counterfeiters are slapped with a maximum ₱2 million in fines and imprisonment of up to 20 years. (Lee Chipongian)