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Bangko Sentral ng Pilipinas Jurisdiction Quiz

11 Questions

2 Views

Bangko Sentral ng Pilipinas Jurisdiction Quiz

Created by

@VerifiableEquation

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Questions and Answers

The Bangko Sentral ng Pilipinas (BSP) has the ________________ within the entire territory of the Philippines

exclusive power to issue currency and to regulate the supply of money

Bangko Sentral ng Pilipinas (BSP) has the sole power and authority to issue currency within the entire territory of the Philippines.

True

The public generally accepts and/or passes Philippine currency as a legal tender without full knowledge if the currency is genuine.

True

In 2009, the Bangko Sentral ng Pilipinas announced a massive redesign for current banknotes and coins to further enhance security features and improve durability.

True Signup and view all the answers

The new banknote design features famous Filipinos and iconic natural wonders.

True Signup and view all the answers

Philippine national symbols will also be depicted on coins.

True Signup and view all the answers

What organization has the sole power and authority to issue currency within the entire territory of the Philippines?

Bangko Sentral ng Pilipinas (BSP) Signup and view all the answers

What did the Bangko Sentral ng Pilipinas announce in 2009?

A massive redesign for current banknotes and coins to enhance security features Signup and view all the answers

What is the purpose of recognizing genuine Philippine currency and guarding against counterfeits?

To avoid becoming potential victims of counterfeit currency Signup and view all the answers

What do the new banknote designs feature?

Famous Filipinos and iconic natural wonders Signup and view all the answers

Who are the members of the Numismatic Committee mentioned in the text?

Bangko Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo Chairman of the National Historical Institute Signup and view all the answers

Study Notes

Bangko Sentral ng Pilipinas (BSP)

Has the sole power and authority to issue currency within the entire territory of the Philippines.
Announced a massive redesign for current banknotes and coins in 2009 to enhance security features and improve durability.
Introduced new banknote designs featuring famous Filipinos and iconic natural wonders.
Depicts Philippine national symbols on coins.

Importance of Genuine Currency

Recognizing genuine Philippine currency is essential to guard against counterfeits.
The public must be aware of the authenticity of currency to maintain trust in the financial system.