NEWSFLASH

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FAKE DOLLARS RAMPANT IN PANGASINAN

Dagupan City, Oct. 4, 1997 - The Central Bank is warning residents that fake dollar bills are circulating in Pangasinan. Percival Zabala, Bangko Sentral ng Pilipinas branch manager, said most of the counterfeit bills are in $100 denominations.

Zabala said a Manila-based syndicate is behind the distribution of the forgeries, which is believed to be taking advantage of the high exchange rate and scarcity of foreign currency.

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