BSP introduces P1,000, P500, P100, P50 polymer banknotes

On Thursday, Bangko Sentral ng Pilipinas (BSP) introduced new polymer banknotes in denominations of P1000, P500, P100, and P50 as part of the First Philippine Polymer Banknote Series.

President Ferdinand Marcos Jr. received these new notes from BSP Governor Eli Remolona Jr. at a ceremony in Malacañang Palace, emphasizing that polymer banknotes are more secure, durable, and sustainable compared to paper bills.

The series includes advanced security features and local designs showcasing native species such as the Visayan spotted deer on the P500 note, Palawan peacock-pheasant on the P100 note, and the Visayan leopard cat on the P50 note, alongside traditional local weave patterns.

In a statement released on Saturday, BSP clarified that banknotes featuring historical figures will continue to circulate along with the new polymer series.

The new bills will enter circulation in limited quantities in the Greater Manila area starting Monday, Dec. 23, and wider distribution is planned for January 2025.