BSP introduces polymer banknotes in first quarter 2025

The Bangko Sentral ng Pilipinas (BSP) announced its plans to introduce the First Philippine Polymer Banknote Series, which will be circulated alongside existing paper banknotes starting in the first quarter of 2025.

In a social media post on Tuesday, the BSP highlighted 'smarter, cleaner, and stronger' features for the new polymer notes, emphasizing their durability, security, and environmental benefits.

Despite criticism from some stakeholders who wanted heroes like Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos featured instead, the P1,000 polymer banknote introduced in April 2022 features symbols of national pride such as the Philippine eagle, Sampaguita flower, Tubbataha Reefs Natural Park, and elements of T'boli culture.

Former BSP governor Benjamin Diokno stated that existing paper bills with hero designs will continue to circulate alongside the polymer notes, ensuring a smooth transition for the public.

The new polymer banknotes are designed to make counterfeiting more difficult and costly, reflecting numismatic dynamism and promoting appreciation of Filipino identity while also being more hygienic due to their non-absorptive surface.