BSP outlines conditions for exchanging mutilated banknotes

The Bangko Sentral ng Pilipinas (BSP) has outlined the conditions under which damaged or mutilated banknotes can still be exchanged.

Mutilated banknotes are defined as bills damaged by elements such as fire, termites, or animal activity.

To be eligible for replacement, the damaged bill must meet specific criteria concerning its size, signature, and the visibility of its security thread.

Specifically, at least 60% of the bill's original size must be present, and at least 65% of the signature of the BSP Governor or the President must be visible.

Additionally, the security thread must remain discernible on the damaged banknote.

Filipinos can bring their mutilated bills to an authorized bank for assessment by the BSP for possible replacement.