BSP: Fake peso banknotes declined in 2025

Counterfeit banknotes detected in the Philippines declined by nearly a fifth in 2025, as enhanced security features and public awareness campaigns helped curb the circulation of fake currency, according to the Bangko Sentral ng Pilipinas (BSP).

In its 2025 annual report, the central bank said documented counterfeit banknotes declined 17.1 percent from a year earlier, equivalent to 10 counterfeit notes for every one million genuine banknotes in circulation, down from 13.2 per million in 2024.

“This reduction reflects the effectiveness of enhanced banknote security features that made counterfeiting more difficult, alongside increased public awareness and expanded training that strengthened counterfeit detection capabilities,” the BSP said.

Paper bills accounted for 97.7 percent of counterfeit banknotes detected during the year, while polymer notes made up just 2.3 percent. Since their introduction in 2022, polymer banknotes have accounted for only 0.6 percent of all counterfeit notes recorded by the central bank.

Counterfeit coins, meanwhile, increased but remained below one counterfeit coin for every one million genuine coins in circulation. Most were leftover pieces from previous years and primarily involved 5-peso coins from the BSP Coin Series.

“The enhanced security features of the New Generation Currency, including the microprinted details and laser-engraved designs, effectively curbed counterfeiting attempts,” the BSP said.