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FACT CHECK: Did BSP issue a redesigned P500 banknote?

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ABS-CBN Investigative and Research Group

<div><strong> ABS-CBN Fact Check Rating: FALSE. </strong></div><p>FACT CHECKED BY THE ABS-CBN INVESTIGATIVE &amp; RESEARCH GROUP </p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="https://sa.kapamilya.com/absnews/abscbnnews/media/2021/life/12/16/photo-1-bsp.jpg" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2021/life/12/16/photo-1-bsp.jpg"/></figure></div><p>The BSP did not release a redesigned P500 bank note replacing the image of the late Senator and national hero Benigno “Ninoy” Aquino Jr. and the late President Corazon “Cory” Aquino with an image of a tarsier. </p><div><strong>BACKGROUND: </strong></div><p>After the BSP released the new design for the P1,000 banknote, numerous social media pages and accounts shared an image of the new P1,000 banknote together with a supposed redesigned P500 banknote. In the said new design of the P500 bill, a Philippine tarsier replaced the image of the late senator and national hero Benigno “Ninoy” Aquino Jr. and the late President Corazon “Cory” Aquino. </p><p>The manipulated image of the 500-peso bill spread quickly on social media beginning last Dec. 12. The post had the caption, “AQUINO LEFT THE GROUP, THE OFFICIAL RELEASE OF BSP IN APRIL 2022.” The caption also included a link, but when clicked, it merely redirects to a shopping website. </p><p>Earlier this year, the BSP also warned the public against the spread of a fake commemorative P500 banknote design after it went viral on social media. </p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/life/12/16/photo-2-bsp.jpg" src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/life/12/16/photo-2-bsp.jpg"/></figure></div><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/09/21/bsp-warns-vs-fake-banknote-designs">BSP warns public vs fake P500 bill with face of ex-President Marcos</a></li></ul><div><strong> WHY ARE WE FACT CHECKING THIS? </strong></div><p>The post is still spreading on social media. As of writing, said post already has more than 20,000 reactions, 3,000 comments and 19,000 shares. It is also being shared through public and private chat groups. All this can create confusion among the public. </p><p>While the Bangko Sentral ng Pilipinas has so far only unveiled the new design of the P1,000 bill, BSP Governor Benjamin Diokno hinted that it would not be the last. Diokno was quoted last week as saying that “(t)he new series will focus on fauna and flora in the Philippines. Those with positive Filipino images like tamaraw, sampaguita, etc.” </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/ancx/culture/spotlight/12/14/21/why-our-wwii-heroes-should-remain-on-the-1000-peso-bill">Why our WWII heroes Santos, Lim and Escoda should remain on the 1000-peso bill</a></li></ul><p>The new P1,000 banknote will start to circulate next year. </p><div><strong>RELATED STORIES: </strong></div><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/11/21/look-bsp-unveils-design-of-p1000-polymer-bill">Bangko Sentral unveils design of new plastic P1,000 bill</a></li>	<li><a href="https://news.abs-cbn.com/business/12/13/21/pic-of-new-1000-piso-polymer-bill-not-yet-final-bsp">New 1,000-Piso polymer bill in circulated pic not yet final: Bangko Sentral</a></li></ul><div><em>ABS-CBN News is part of the Philippine Fact-Checker Incubator Project, which supports different news organizations in building their fact-checking capacity to meet international fact-checking standards. </em></div>

The BSP did not release a redesigned P500 bank note replacing the image of the late Senator and national hero Benigno 'Ninoy' Aquino Jr. and the late President Corazon 'Cory' Aquino with an image of a tarsier. 