• NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
Baguio Chronicle
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
No Result
View All Result
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
No Result
View All Result
Baguio Chronicle
No Result
View All Result
Home Fact Check

FACT CHECK: The new ₱1,000 polymer banknote won’t be legal tender when folded #FactsFirstPH

Baguio Chronicle by Baguio Chronicle
July 13, 2022
in Fact Check
Reading Time: 5 mins read
FACT CHECK: The new ₱1,000 polymer banknote won’t be legal tender when folded #FactsFirstPH
11
SHARES
41
VIEWS
Claim: The new ₱1,000 polymer banknote won’t be legal tender when folded.
Rating: FALSE
The Facts: In April 2022, the Bangko Sentral ng Pilipinas began the circulation of the new and improved 1000-piso polymer banknotes. The BSP explains that the new polymer banknotes are SMARTER (more secure and sustainable), CLEANER (more hygienic and sanitary), and STRONGER (durable and cost-effective) than paper banknotes.
https://www.bsp.gov.ph/…/CoinsAndNotes/CoinsAndNotes.aspx
On July 9, 2022, the Police Community Affairs and Development unit of Central Luzon Facebook page made a post with a list of things citizens are not allowed to do with the new ₱1000 polymer banknote.
The post discouraged citizens from accepting banknotes if they were folded as they would not be fit for payment in establishments. In the post, the PCADG claimed that according to the Bangko Sentral ng Pilipinas, the ₱1000 note would not be accepted if folded. The post also emphasized that citizens could suffer charges of up to 20,000 pesos and 5 years in jail if they mishandled the new ₱1000 polymer banknote.
https://www.facebook.com/RPCADU3/posts/422533339891287
On July 11, 2022, the Bangko Sentral ng Pilipinas released an advisory to address the numerous concerns raised on social media regarding the non-acceptance by some establishments of folded ₱1000 polymer banknotes. In their advisory, the BSP, informs the public that folded banknotes, whether paper or polymer, can still be circulated and accepted for payment.
https://www.bsp.gov.ph/…/MediaAndRese…/MediaDisp.aspx…
The Bangko Sentral ng Pilipinas has also issued guidelines on the proper handling of polymer banknotes. The handling guidelines were issued to raise public awareness on the proper use of polymer and paper banknotes to safeguard their integrity and prolong their lifespan.
https://www.bsp.gov.ph/…/CoinsAndN…/PolymerBanknote.aspx
“The mandate of the President stretches to the widest stretch of Filipinos, all of whom handle physical bills on a daily basis, in the markets and malls. It will be a disservice to all of them if the BSP polymer policy will not be overruled,” said Ronald Gustilo, Digital Pinoys national campaigner.
“While it is good to always side with innovation and technology, the best innovation has always resolved real public problems instead of creating new ones.”
Why we fact-checked this: After receiving more than 4,400 FB reactions, 5,300 comments, and 12,000 shares, the post went viral with citizens from all over social media afraid of accepting folded ₱1000 polymer banknotes.
The post made by the Police Community Affairs and Development unit of Central Luzon Facebook page was misleading and can be considered fear-mongering.
#FactsFirstPH
ADVERTISEMENT
ADVERTISEMENT
Previous Post

FACT CHECK: Rappler violated the Constitution #FactsFirstPH

Next Post

FACT CHECK: Ni kanu Presidente Ferdinand R. Marcos Jr., a kasla kenni tatang na, ket agek-extemporaneous speech weno saan kano a kasapulan nga agisagana ti basaen weno ibagana nu agbitla #FactsFirstPH

Baguio Chronicle

Baguio Chronicle

Hailed by the Philippine Press Institute’s Annual Community Press Awards for Excellence as the country’s Best Edited Community Newspaper. Best in Photo Journalism-Weekly 2015 & 2016 and Best in Environmental Reporting-Weekly in 2018.

Related Posts

FACT CHECK: Philippines has one of the lowest inflation rates in the world #FactsFirstPH

FACT CHECK: Philippines has one of the lowest inflation rates in the world #FactsFirstPH

March 15, 2023
FACT CHECK: President Ferdinand ‘Bongbong’ Marcos Jr. did not get a special diploma from UA&P #FactsFirstPH

FACT CHECK: President Ferdinand ‘Bongbong’ Marcos Jr. did not get a special diploma from UA&P #FactsFirstPH

March 14, 2023

FACT CHECK: Ninoy Aquino was hopelessly in love with Imelda Marcos #FactsFirstPH

FACT CHECK: Marcos Administration to provide cash aid amounting to 9 trillion pesos #FactsFirstPH

FACT CHECK: University of the Philippines will be closed down following a P2.5-billion budget cut #FactsFirstPH

FACT CHECK: Transport strike is communist #FactsFirstPH

Latest Stories

New Heights – Millstones and milestones

March 28, 2023

On Point – Flight may equate to guilt

March 28, 2023

Rooster’s Tales – Igorots red-tagged!

March 28, 2023

Baguio Chronicle

 

The Baguio Chronicle is the fastest- growing news publication in Northern Luzon today. It was established on December 6, 2009 in Baguio City.

© 2022 The Baguio Chronicle Website Design and Development by Neitiviti Studios.

No Result
View All Result
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In