New Philippine polymer banknote series out

National

THE Bangko Sentral ng Pilipinas (BSP) on Monday, December 23, started circulating limited quantities of its first Philippine polymer (FPP) banknote series.

The BSP said 70 to 90 million pieces were allocated for each of the P500, P100 and P50 denominations, a report by PHilippine Star said.

“These polymer banknotes are designed to be smarter, cleaner, and stronger than traditional paper banknotes, offering advanced security features and improved durability,” the BSP said.

The public can avail of the new denominations through the counters in the banks, then will be followed by the P50 and P100, which will be availed through the automated teller machines (ATMs)).

Its security features are “more sophisticated”, designed to easily detect counterfeits.

The new designs of the recently released banknotes feature images of native and threatened species in the country at the front portion, while the back part has images of cultural elements and recognized heritage and cultural sites.

The P1000 banknote has the image of the Philippine eagle and the Sampaguita flower at the front while the Tubbataha Reefs Natural Park, South Sea pearl, and the T’nalak weave design are featured at the back; the P500 banknote has a design of the Visayan spotted deer and Acanthephippium mantinianum on its front face while the Puerto Princesa Subterranean River National Park, blue-naped parrot, and southern Philippine weave design filled the back portion.

As to the P100 banknote, it features the Palawan peacock-pheasant and Ceratocentron fesselii with Mayon Volcano, whale shark, and Bicol Region weave design boasted at the back. The front of the P50 banknote has the Visayan leopard cat and Vidal’s lanutan and Taal Lake, native maliputo fish, and Batangas embroidery design at the back.

“The BSP encourages everyone to get to know the new banknote series—including consumers, cash handlers in banks and other financial institutions, retail stores, public transport operators, and other businesses involved in financial transactions,” BSP Assistant Governor Mary Anne P. Lim said.(LAO)