Philippines admits to circulating ‘faceless’ banknotes

Philippine pesos
Correctly printed Philippine peso notes

The Central Bank of the Philippines (BSP) has admitted to accidentally releasing into circulation several misprinted banknotes in late 2017.

The “faceless” PHP100 notes (worth around $2) were printed with a white space where the portrait of former president Manuel Roxas should have been.

After investigating, the central bank found they were not poorly printed counterfeits, but that it had issued the notes itself, and then located the “mechanical cause” of the problem. According to a statement

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