THE Bangko Sentral ng Pilipinas (BSP) reminded the public not to sell or exchange the new P1,000 bank note and to treat it only as worth its face value.
The BSP clarified that the new P1,000 bank note made from polymer is of the same value as that of the existing P1,000 bank note that is still being used for payment of good and services and other transactions.
The banking regulator came out with the new P1,000 bill in response to health issues and safety because of the COVID-19 pandemic, to fight against counterfeiting, and caring for the environment.
It can be recalled that the same situation happened with the P20 coin that was bought by up to more than P500 per piece.
The new polymer P1,000 bill was released by the BSP this month.