MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) set the record straight: folded polymer banknotes can be circulated and accepted for payment.

This comes after social media posts warned that some establishments refused to accept folded P1,000 polymer banknotes as payment.

In this TikTok video, Rappler business reporter Ralf Rivas explains why the BSP’s recently issued guidelines for handling polymer banknotes are also applicable to paper banknotes.

“The handling guidelines were issued to raise public awareness on the proper use of polymer and paper banknotes to safeguard their integrity and prolong their life span,” the BSP said. – Rappler.com