BSP: U.S. Dollar Notes With Stamps Still Accepted

The Bangko Sentral ng Pilipinas (BSP) has refuted rumors suggesting that it issued a directive stating that US dollar notes with stamps from money changers would only be accepted until March 12.

The BSP denied issuing any such directive regarding US dollar-denominated banknotes bearing a money changer’s stamp.

Dismissing the alleged directive as fake news, the BSP denied issuing any such directive regarding US dollar-denominated banknotes bearing a money changer’s stamp.

Furthermore, the BSP has addressed rumors regarding the exchange or replacement of foreign currencies, emphasizing that only BSP-supervised financial institutions, such as banks and money service businesses (MSBs) engaged in money changing or foreign exchange dealing, are authorized to conduct foreign exchange-related transactions.

"The BSP advises the public to remain vigilant against bogus information, particularly those circulating on online chat groups, as well as entities that misrepresent the BSP," it stated.

The BSP also clarified that it does not accept requests for the exchange or replacement of foreign currencies into Philippine pesos. It stressed that the BSP’s mandate is limited to the exchange of Philippine currency for Philippine banknotes and coins of any denomination.

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