BSP unveils new designs for polymer banknotes

The Bangko Sentral ng Pilipinas (BSP) has unveiled new designs for polymer banknotes. Notably, indigenous animals in the Philippines are featured on the designs instead of national heroes.

The designs above are for the 50, 100, and 500 peso bills, presented to President Ferdinand Marcos Jr. on Thursday. The thousand peso bill that was initially introduced in April 2022 was also added. Collectively, these are called the “First Philippine Polymer Banknotes Series”.

According to this article by ABS-CBN, the BSP says the new bills showcase the country’s rich biodiversity and cultural heritage. The banknotes feature images of our native animals and plants alongside traditional local weave designs.

The bank also notes that the new bills are smarter, cleaner, and stronger in comparison to traditional paper banknotes.

Marcos also held a speech where he says that the banknotes are designed to “keep up with the demands of everyday life. He also noted that paper bills wear out after a year or so. Meanwhile, polymer banknotes can last up to seven and a half years.

That means we no longer need to replace them as often, saving money and cutting down on waste. He added that this makes a meaningful contribution to protecting the environment.

The new plastic banknotes will be available to the public by Monday on December 23, 2024. However, they will be in limited quantities with the bills entering the general circulation across the country in 2025.

What do you guys think of the new designs for polymer banknotes in the Philippines? Share your thoughts with us below!