BSP warns Filipinos about fake P500 Marcos bill


It has been almost a week since satire page Cebu Diary News published a misleading photo that shows a P500 Marcos banknote. The Bangko Sentral ng Pilipinas (BSP) warned the public that it’s against the fake bill design that shows the late dictator Ferdinand Marcos on Tuesday, November 9.

The parody account also wrote a caption supporting the false banknote that reads, ‘This is so to commemorate the heroism of then 2LT Ferdinand Marcos on leading the guerilla fighters called ‘Maharlika’ to protect the Philippines from the Japanese invasion.’

An article by The Washington Post explained how there are U.S. documents that rejected Ferdinand Marcos’ claim that he led an anti-Japanese group during World War II. It stated, ‘Documents in the archives suggest that Marcos actually worked on behalf of Philippine politicians who collaborated with the Japanese occupation of the islands from 1942 to 1944.’

Cebu Diary News’ post currently has over 64,000 likes, 10,000 comments, and 36,000 shares, as of writing. The BSP noted in a statement that “it has not issued new banknote design or a new design series.”

Back in December 2020, a similar issue of a fake Marcos bill also circulated. In a report by Rappler, another Facebook page published a video that wrongly claimed that the P500 design which shows former senator Benigno “Ninoy” Aquino Jr and former president Corazon Aquino on the P500 bills will be replaced by former president Ferdinand Marcos.

However, BSP confirmed in 2012 that it once designed a P500 bill featuring Marcos. The artist behind the banknote Romeo Castillo MananQuil told Toronto’s Celebrate Magazine in 2008 that it was supposed to go into production in late 1985, but didn’t make it to the circulation stage.

‘The circulation of the newly printed bills was put on hold in deference to the law against electioneering, as Marcos, whose image appeared on the new bank note, was the incumbent candidate running against Corazon Aquino,’ he added.

BSP posted an advisory on how to detect counterfeit bills here. Fake banknotes can also be reported to [email protected].

P500 Marcos bill, <b> BSP warns Filipinos about fake P500 Marcos bill</b>

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