- The Bangko Sentral ng Pilipinas has given a warning about vandalizing or destroying the Philippine currency
- Stapling, writing, and excessive folding are considered as prohibited acts
- The violators will be facing a fine and/or years of imprisonment
The Bangko Sentral ng Pilipinas (BSP) has recently posted a warning on social media about the improper ways of using the peso bills and coins. KAMI learned that there are consequences for vandalizing or improperly handling the Philippine currency.
Through a Facebook post, BSP shared prohibited instances under Presidential Decree No. 247. Here are the acts of improper handling money:
- Writing or drawing on peso bills or coins
- Intentional cutting, tearing, burning or any other way of destroying the Philippine peso
- Excessive folding or crumpling of the peso bill
- Exposing of Philippine peso to chemicals or other materials that may deface the currency
According to the Law Phil website, it was late President Ferdinand Marcos who signed the Presidential Decree No. 247 in July 1973.
“Defacing, mutilating, tearing, or partially burning or destroying our currency by any means renders it unfit for circulation, thereby unduly shortening its lifetime, and such acts unfavorably reflect on the discipline of our people and create a bad image for our country,” it stated.
Under the Decree, those who will violate it will be slapped with a fine not more than P20,000 and/or jail time not more than five years.
In a report by ABS-CBN News, here are other samples that violate the aforementioned Decree:
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