BSP says it will continue producing regular P500, P100 and P50 banknotes alongside polymer bills
The Bangko Sentral ng Pilipinas (BSP) said that they will not stop producing paper banknotes featuring the Philippine heroes in a press conference on Friday.
BSP Assistant Governor Mary Anne Lim said the paper banknotes '' featuring our Philippine heroes will still be there and they will continue to be still used by the public ''.
The polymer bills of 500, 100 and 50 peso denominations which was unveiled to President Ferdinand Marcos Jr on Thursday in Malacanang and the regular banknotes '' will full circulate together," Lim said.
The polymer bill series, which includes the previously issued 1,000 peso bill, boasts of ''advanced security features'' and ''improved durability'', the BSP said in a statement.
However, groups decried, as in the P1,000 polymer series did not have historical figures but were replaced Philippine flora and fauna.
The P500 polymer bill, which has the late President Corazon Aquino and former Senator Benigno Aquino Jr. on the banknote, has the critically endangered Visayan Spotted Deer found in Panay and Negros.
The P100 polymer, which has the picture of the late President Manuel Roxas on the banknote, has the endangered Palawan Peacock-Phesant or Tandican.
The P50 polymer bill, which has the picture the late President Sergio Osmena and the Leyte Landing on the banknote, has the endemic sub-species and vulnerable Visayan Leopard Cat found in the islands of Panay, Negros and Cebu.
The P1,000 banknote carries the pictures of the late Chief Justice Jose Abad Santos, Josefa Llanes Escoda and General Vicente Lim. In the P1,000 polymer bill, it has the endemic and critically endangered Philippine Eagle.
Kiko Dee, a grandson of the Aquinos, said '' The Marcos Administration are showing they don't care about accountability, healthcare and education. Now, they are changing our banknotes, move started by the Duterte administration, so they don't have to look our heroes in the eye while betraying their sacrifices.''
"It has also been the position of BSP that both featuring the national hero and the rich biodiversity of the Philippines ... are both equally important and deserves to be recognized and for public awareness as well we want to promote more public awareness and environmental responsibility," Lim added.
BSP said that "the new polymer banknote series will be available in limited quantities in the Greater Manila Area starting 23 December 2024, and in the rest of the country shortly thereafter.''
The new denominations of the polymer series initially may be withdrawn over-the-counter in banks. Later, the 500- and 100-piso polymer banknotes will also be available through automated teller machines (ATMs), the central bank said. Marie Manalili/DMS
