President Ferdinand R. Marcos Jr. formally accepted the “First Philippine Polymer Banknote Series” from Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. during a ceremony held at Malacañang on December 19, 2024.
The series includes the previously introduced 1,000-piso polymer banknote, launched in April 2022, and three new denominations: 500-, 100-, and 50-piso notes. Each denomination features images of native and endangered Philippine species, complemented by traditional local weave designs, reflecting the country’s biodiversity and cultural heritage.
The polymer banknotes will circulate alongside their paper counterparts, both remaining valid for payments.
“This historic introduction of the 1000-, 500-, 100-, and 50-piso polymer denominations builds on the success of the 1,000-piso polymer note and aligns with global best practices in currency modernization,” President Marcos said.
He highlighted the practical advantages of polymer banknotes, including their durability and environmental benefits. “Polymer banknotes last up to seven and a half years, five times longer than paper bills. This reduces replacement costs, cuts waste, and contributes to environmental protection,” the President added.
Advanced Features and National Pride
BSP Governor Remolona emphasized the polymer series’ significance in fostering Filipino identity and pride while raising awareness about the nation’s endangered species.
“These polymer banknotes are smarter, cleaner, and stronger,” said Remolona. “They feature advanced anti-counterfeiting technology, are more resistant to bacteria and viruses, and have a significantly longer lifespan.”
Each denomination showcases a unique combination of Philippine species and cultural elements:
- 1,000-piso: Philippine eagle, sampaguita flower, Tubbataha Reefs Natural Park, South Sea pearl, and T’nalak weave design.
- 500-piso: Visayan spotted deer, Acanthephippium mantinianum, Puerto Princesa Subterranean River National Park, blue-naped parrot, and southern Philippine weave design.
- 100-piso: Palawan peacock-pheasant, Ceratocentron fesselii, Mayon Volcano, whale shark, and Bicol Region weave design.
- 50-piso: Visayan leopard cat, Vidal’s lanutan, Taal Lake, native maliputo fish, and Batangas embroidery design.
The notes are designed for accessibility, featuring embossed tactile dots for the visually impaired.
Availability and Distribution
The polymer banknotes will initially be available in limited quantities in the Greater Manila Area starting December 23, 2024, with nationwide distribution to follow. Initially, the new 500- and 100-piso notes can be withdrawn over the counter at banks, with ATM availability planned later.
Modernizing Currency for Security and Efficiency
The shift to polymer banknotes is part of BSP’s periodic updates to enhance currency security and prevent counterfeiting. The Philippines’ New Generation Currency Series, introduced more than a decade ago, is due for modernization in line with international practices, where central banks typically refresh banknote designs every 10 years.
Through these innovations, the BSP aims to maintain the integrity of Philippine currency while highlighting the nation’s rich natural and cultural heritage.
