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The Bangko Sentral ng Pilipinas (BSP) reminds the public that folded polymer banknotes remain legal tender and should be accepted for payments and other financial transactions. The BSP began the circulation of the new and improved 1000-piso polymer banknotes in April 2022. It says the new banknotes are smarter, more secure and more eco-friendly. When deemed unfit, the banknotes can be recycled to produce various products such as building components, plant pots and garden furniture.