New polymer banknote series launched; Ninoy, Cory out

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) yesterday presented to President Marcos the first Philippine polymer banknote series that showcases the country’s rich biodiversity and cultural heritage – bills that will be available in time for Christmas.

The polymer series consists of the P1,000 polymer banknote, which was introduced in April 2022, and new polymer denominations P500, P100 and P50.

While the paper banknotes feature the portraits of heroes and former presidents, the polymer banknotes showcase images of native and protected species in the country and traditional local weave designs.

This ends the use of the images of democracy icons Benigno “Ninoy” Aquino Jr. and Corazon Aquino, who fought the dictatorship of the elder Ferdinand Marcos, on the 500-peso banknote.

The polymer banknotes will be available in limited quantities by Dec. 23 in the Greater Manila area. They will be circulated nationwide in January.

“The BSP could not have chosen a more opportune time to release these bills than Christmas season. I am sure that this fresh set of bills would add excitement to our kids when they come and ask for their aguinaldo,” Marcos said in a speech during the presentation of the polymer bills.

The BSP said it follows a cyclical pattern in selecting currency design themes and showcases symbols of national pride across various denominations over the decades.

“With over 70 designs of legal tender, commemorative coins, banknotes and medals, the BSP has always featured the country’s heroes and nature, sometimes one in the front and the other in the back, reflecting their significance in Philippine culture. Some coins have Philippine nature on their front. For this series of notes, the BSP decided to put focus on the latter,” the central bank said.

The P1,000 bill features the Philippine eagle, sampaguita flower, Tubbataha Reefs Natural Park, South Sea pearl and the T’nalak weave design while the P500 denomination will showcase the Visayan spotted deer, Acanthephippium mantinianum, Puerto Princesa Subterranean River National Park, blue-naped parrot and southern Philippine weave design.

The P100 denomination contains the images of the Palawan peacock-pheasant Ceratocentron fesselii, Mayon Volcano, whale shark and Bicol Region weave design. The P50 bill features the Visayan leopard cat, Vidal’s lanutan, Taal Lake, native maliputo fish and Batangas embroidery design.

Polymer banknotes can last up to seven and a half years or five times longer than their paper counterparts. They are also more hygienic than paper bills and contain more security features designed to prevent counterfeiting. The new bills also have accessibility features, such as the highly embossed tactile dots on the top long edge to help the elderly and persons with vision impairment.

“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,” Marcos said.