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22:26, 29-Dec-2017
Philippines' central bank explains 'faceless' currency glitch
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The Philippines’ central bank has blamed mechanical error “birth pains” for an embarrassing printing glitch that produced faceless banknotes.
A bank client on Christmas Eve posted photos of the currency missing the face of former President Manuel Roxason on Facebook.
The defective bills, which went viral, were later withdrawn from an ATM of the Bank of Philippine Islands (BPI).
Facebook Photo
Facebook Photo
“In the manufacturing and production process, there are cases when machine errors cause rare misprints," the Bangko Sentral ng Pilipinas (BSP) said in a statement at a press briefing on Thursday. "In this particular case, the BSP has identified the mechanical cause of the said erroneous printing. It has since been resolved.”
Carlyn Pangilinan, the central bank's managing director for currency management, said that there were only 33 misprinted pieces, accounting for 0.00009 percent of the whole batch.
"The incident is isolated. There should be no cause for alarm," she said, adding that the glitch was just “birth pains.”
The bank called on those who received misprinted bills to turn them over and the notes will be validated and replaced at par value.
In addition, since the “faceless” bills are issued by BSP, they are legal tender and can be saved for collection.
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