MANILA, Philippines – The release of the first Philippine Polymer Banknote series by the Bangko Sentral ng Pilipinas (BSP), featuring the new designs for the ₱50, ₱100, and ₱500 denominations, garnered reactions and comments from the public.
It can be recalled that in 2021, the BSP first released the new design of the ₱1,000-denominated banknote.
 |
| Photo courtesy: Facebook/ Bangko Sentral ng Pilipinas |
According to former BSP Governor Benjamin Diokno that time, the BSP designed the banknotes, which were approved by the National Historical Institute (NHI). He added that the issuance was also authorized by the Monetary Board and the Office of the President, during the term of former President Rodrigo Duterte.
Featured on its front is the Philippine eagle, replacing the images of national heroes Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos.
The new ₱50, ₱100, and ₱500 denominations reflect the national wealth, nature, and culture of the Philippines while offering improved quality, cleanliness, and security, according to BSP Governor Felipe Medalla.
The new polymer banknotes feature designs of animals and plants endemic to the Philippines, replacing the images of heroes and former presidents seen on the old versions.
For the ₱50 polymer bill, it features the Visayan leopard cat, symbolizing agility, and Vidal’s lanutan, an endemic flower. The old version depicted former President Sergio Osmeña and the Leyte Landing.
 |
| Photo courtesy: Facebook/ Bangko Sentral ng Pilipinas |
The ₱100 polymer bill showcases the Palawan peacock-pheasant and Ceratocentron fesselii, an endangered orchid. The previous version highlighted former President Manuel Roxas and the BSP Complex.
 |
| Photo courtesy: Facebook/ Bangko Sentral ng Pilipinas |
And finally, the ₱500 polymer bill displays the Visayan spotted deer and Acanthephippium mantinianum, an endemic orchid. The old version featured former President Corazon Aquino and former Senator Benigno “Ninoy” Aquino, Jr.
 |
| Photo courtesy: Facebook/ Bangko Sentral ng Pilipinas |
According to the BSP, the new polymer bills are more durable compared to the previous paper bills, which are prone to creasing and damage.
Starting December 23, 2024, the polymer banknotes will be released in limited quantities in Metro Manila. By January 2025, they are expected to become part of the nationwide circulation.
The BSP reminded the public that the paper versions will still be accepted as a legitimate means of payment.
In a statement on Saturday, BSP says:
The Bangko Sentral ng Pilipinas (BSP) reiterates that Philippine paper banknotes featuring the country's heroes remain in circulation.
The banknotes with historical figures will circulate alongside the newly launched "First Philippine Polymer Banknotes Series," which showcases the country's rich biodiversity.
The BSP has always featured the country's heroes and natural wonders in banknotes and coins.
Featuring different symbols of national pride on our banknotes and coins reflects numismatic dynamism and artistry and promotes appreciation of the Filipino identity.
While the BSP's effort to improve the quality of the paper bills is commendable, the change in designs has sparked reactions.
Many questioned why animals were chosen to replace the country's heroes, whose images serve as a reminder of their greatness and heroic contributions to the nation.
Many have suggested that the designs featuring the faces of national heroes and former presidents be reinstated instead of animals.
Some netizens, however, couldn’t help but politicize the issue, especially since Cory and Ninoy Aquino were staunch critics of the father of President Ferdinand "Bongbong" Marcos Jr., the late President Ferdinand Marcos Sr.
What are your thoughts about it?
— Noel Ed Richards, The Summit Express
