The Bangko Sentral ng Pilipinas (BSP) said the new polymer banknotes to be released in the first quarter of 2025 will be circulated alongside the existing paper banknotes.
“Paper banknotes shall remain legal tender,” the BSP said in a statement on Wednesday.
In a social media post on Tuesday, the BSP announced the issuance of the First Philippine Polymer banknote series.
According to the BSP, these banknotes have smarter, cleaner and stronger features.
While the paper banknotes feature the country’s heroes and natural wonders, the polymer series will showcase the country’s rich biodiversity.
“Featuring different symbols of national pride in our banknotes and coins reflects numismatic dynamism and artistry and promotes appreciation of the Filipino identity,” the BSP said.
In April 2022, the BSP began the circulation of the new and improved PHP1,000 polymer banknotes.
The polymer banknote features the Philippine Eagle and the Sampaguita on the obverse side; and Tubbataha Reefs Natural Park, South Sea Pearl and T’nalak weave design on the reverse side.
The BSP earlier said polymer banknotes make counterfeiting more difficult and costly. (PNA)
