You can still use your P20 paper bill, says Bangko Sentral

From using it to pay for daily transportation to buying mobile load, and receiving it in ampaos — a 20-peso bill still holds value. While fake news online says the currency will be demonetized soon, Bangko Sentral ng Pilipinas assures that it will remain as legal tender.

BSP posted an advisory on their official Facebook page that the new P20 bill shall be gradually excluded from circulation through natural attrition or until it becomes unfit for recirculation. It said, ‘The Bangko Sentral ng Pilipinas (BSP) advises the public that the 20-Piso New Generation Currency (NGC) banknotes remain as legal tender and can be used alongside the 20-Piso NGC coins for day-to-day transactions.’

BSP Governor Benjamin Diokno addressed the issue on his Twitter account. He emphasized, ‘The 20-Piso Banknote remains legal tender. Messages circulating that the 20-Piso banknote will no longer be legal tender by year-end is FALSE.’

The 20-Piso Banknote remains legal tender. Messages circulating that the 20-Piso banknote will no longer be legal tender by year-end is FALSE.

— Benjamin Diokno (@GovBenDiokno) September 27, 2021

On the website of BSP, an additional announcement was added regarding the legality of the 20-peso banknote. It issued an advisory to banks to “promote the distribution, recirculation, and mobilization of the 20-Piso coins.”

The new P20 NGC coin was released on 17 December 2019. BSP added, ‘The bi-color 20-Piso coin retains major elements of the 20-Piso banknote. The obverse side of the coin features Manuel L. Quezon, while the reverse side shows the BSP logo, the Malacañan Palace, and the Nilad plant.’

The central bank also encouraged the public to properly use and to recirculate Philippine coins for their economic and cultural value instead of saving them at home.

Banner: (L) viralbuzzmakers.com

The post <b> You can still use your P20 paper bill, says Bangko Sentral </b> appeared first on WE THE PVBLIC.

Source: we the pvblic