Responding to an online rumor, the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has warned the public that there is no such thing as a 10,000-peso banknote, which would be worth about US$185 if it existed.
On Friday, a Facebook post began circulating saying that the BSP had released a 10,000-peso banknote. The post said the new note was part of the New Generation of designs for Philippine paper currency, GMA News reported.
However, the BSP announced on its own Facebook page that no such banknote had been produced or issued.
“The Bangko Sentral ng Pilipinas advises the public that the New Generation Currency Banknote Series currently in circulation is [composed] of six denominations only: 1,000, 5,000, 200, 100, 50 and 20 [pesos],” the BSP said.
The central bank urged the public to report immediately any cases of forgery of Philippine banknotes to the police or the National Bureau of Investigation.
“The BSP enjoins the cooperation of the public in reserving the integrity of Philippine currency through sharing of verified and truthful information,” it said.
Some netizens believed the rumor of the high-denomination banknote despite the Philippines’ high inflation. In May, the inflation rate was 4.6%.