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20-Piso banknote remains legal tender -- BSP

Business

20-Piso banknote remains legal tender -- BSP

By Lee C. Chipongian

The Bangko Sentral ng Pilipinas (BSP) advises the public that the 20-Piso New Generation Currency (NGC) banknotes remain as legal tender and can be used alongside the 20-Piso NGC coins for day-to-day transactions.

Screen Shot 2021-09-27 at 9.52.28 PM

BSP Gov. Benjamin Diokno also tweeted "The 20-Piso Banknote remains legal tender. Messages circulating that the 20-Piso banknote will no longer be legal tender by year-end is false."

In its official statement, the BSP said that the 20-Piso NGC banknotes shall be gradually removed from circulation through natural attrition or until the 20-Piso banknotes become unfit for recirculation.

In relation to this, the BSP also recently issued an advisory to banks to promote the distribution, recirculation, and mobilization of the 20-Piso coins.

Screen Shot 2021-09-27 at 9.52.42 PM

The BSP released the new 20-Piso NGC coin on 17 December 2019. The bi-color 20-Piso coin retains major elements of the 20-Piso banknote. The obverse side of the coin features Manuel L. Quezon, while the reverse side shows the BSP logo, the MalacaÃ±an Palace, and the Nilad plant.

The BSP enjoins the public to properly use and to recirculate Philippine coins for their economic and cultural value.

Related Tags

Bangko Sentral ng Pilipinas Bankers Association of the Philippines

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