A NEW set of polymer bank notes was unveiled by the Bangko Sentral ng Pilipinas (BSP) before President Ferdinand R. Marcos Jr., the First Philippine Polymer Banknote (FPP) Series.
The said new notes comes after the P1,000 polymer banknote that started the circulation in 2022.
“Polymer banknotes are smarter, cleaner, and stronger. Smarter because they have advanced anti-counterfeiting features and a smaller carbon footprint. Cleaner because viruses and bacteria do not survive as long on polymer than on paper. Stronger because they last longer than their paper counterparts,” BSP Governor Eli Remolona.
The new polymer banknote comes in denominations of P500, P100, and P50.
It showcases various images of native and protective species which also carried local weave designs.
The P1,000 polymer banknote was released in April 2022 and it featured the Philippine eagle.
However, for the new polymer banknotes, the P500 will have the Visayan spotted deer, the P100 will boast the Palawan peacock-pheasant, and the P50 will showcase the Visayan leopard cat.
Can it be used for Aguinaldo?
However, the new polymer banknote denominations will be circulated in the first quarter of 2025.
Limited quantities will be made available this month.
President Marcos Jr. on the other hand reminded the public that the paper banknotes will still remain in circulation.
“By upgrading our currency, we are making sure that every hard-earned peso stays safe, whether it is saved, whether it is spent, or whether it is invested,” he said.
“I would like to take this chance to remind everyone: Our paper banknotes will continue to circulate and will remain valid,” Marcos added.
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