President Ferdinand R. Marcos Jr. received the new “First Philippine Polymer Banknote Series” from Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. in a ceremony at Malacañang on Thursday. The polymer series, which includes the 1000-, 500-, 100-, and 50-piso denominations, builds on the success of the 1,000-piso polymer note introduced in 2022.
The new series, designed to co-circulate with paper banknotes, features vibrant depictions of endangered native species and cultural elements, celebrating the Philippines’ biodiversity and heritage. The polymer notes are more durable, lasting up to 7.5 years, five times longer than paper bills, reducing the need for replacements, cutting costs, and minimizing environmental impact.
As BSP governor Remolona emphasized, the polymer notes not only enhance security with advanced anti-counterfeiting features but also raise awareness about the country’s threatened species, fostering national pride. This shift to polymer aligns with global trends and modernizes the country’s currency system, with the new denominations set for distribution in the Greater Manila Area starting 23 December 2024.
This innovation in currency underscores the BSP’s commitment to strengthening the Philippine peso while preserving the country’s cultural and ecological identity.
