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Pursuant to the New Central Bank Act, the BSP has the sole power and authority to issue currency, within the territory of the Philippines. Notes and coins issued by the BSP are liabilities of the BSP and may be issued only against, and in amounts not exceeding, its assets. All notes and coins issued by the BSP are fully guaranteed by the government and are legal tender in the Philippines for all debts, both public and private.
You may download the PDF version of the Frequently Asked Questions on Banknotes and Coins here.
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