BSP warns public vs currency mutilation Print
Friday, 03 November 2017 15:49

The Bangko Sentral ng Pilipinas (BSP) Zamboanga City branch is warning the public against mutilating currencies, both coins and New Generation Currency paper bills, as this is punishable by law.

PD 247 prohibits and penalizes defacement, mutilation, tearing burning or destruction of  bank notes and coins. The penalty is P20,000 and imprisonment of not more than 5 years.

Currencies for coins include 1 centavo, 5 centavos, 10 centavos, 25 centavos, P1, P5, and P10 while for bills P20, P50, P100, P200, P500, and P1,000.

“Meron legal basis although that is a law na hindi masyadong naaply  because of the impracticality pero kung may valid na reklamo and evidence pwedeng makakasuhan,” Hermogenes Buenaflor Jr., Bank Officer, BSP Zamboanga said in an interview.

For bills, it is prohibited for individuals to staple, burn, and crumple write anything on bills. For coins, it is prohibited for coins to be turned into accessories and used as weights for roof, and toys.

He explained that the complaint related to this matter will be turned over to Manila.

Those who have information can inform the office so they can make the proper complaint together with the supporting evidences.

“Kung pwede tigilan yung currency mutilation pairalin natin yung pagiging patriotic kasi pondo  ng gobyerno yung ginamit sa pag produce ng pera. Sayang,” Buenaflor said. (RGAAGo)