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Say goodbye to paper: Philippines' new banknotes are here!

Business | Banking & Finance

Say goodbye to paper: Philippines' new banknotes are here!

By Manila Bulletin

The Bangko Sentral ng Pilipinas (BSP) has introduced the First Philippine Polymer (FPP) Banknote Series featuring enhanced security and durability, which will be available in circulation starting the first quarter of 2025.

On Thursday, Dec. 19, President Ferdinand R. Marcos Jr. led the unveiling of the FPP series in a ceremony at the President’s Hall in Malacañan Palace. The polymer banknotes are in denominations of P500, P100, and P50.

The BSP previously announced that these polymer banknotes will circulate alongside the existing paper banknotes. The new series boasts "smarter, cleaner and stronger" features.

"Unlike the current paper banknotes, which showcase the country’s heroes and natural wonders, the polymer series highlights the Philippines’ rich biodiversity," the BSP said in a Facebook post.

"This shift reflects the BSP’s commitment to promoting national pride through numismatic artistry while fostering an appreciation of Filipino identity,” the central bank added.

The BSP added that the polymer banknotes offer several practical benefits, including enhanced resistance to counterfeiting and improved durability.

"These features ensure that the new notes are not only aesthetically significant but also cost-efficient and secure," the BSP noted.

Related Tags

Bangko Sentral ng Pilipinas (BSP) Philippine Polymer Banknotes First Philippine Polymer (FPP) Banknote Series

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