BAGUIO CITY (PIA) – The Bangko Sentral ng Pilipinas – Northern Luzon Regional Office (BSP-NLRO) strengthens information education campaign about the new polymer banknote series as the BSP has rolled out 70-90 million pieces in various denomination nationwide.
Dennis D. Gundran, Senior Research Specialist of the BSP-NLRO during a radio interview, shared that the polymer banknotes in P500, 100, 50, and 1,000 denominations, are smarter, cleaner, and stronger.
Smarter because they have anti-counterfeiting features compared to their paper counterparts. Cleaner because polymer banknotes have smoother and non-absorptive surfaces, which make them less likely to get damaged or dirty due to water, oil, and dirt. They can also be sanitized with less risk of damaged.
Polymer banknotes are also stronger with a lifespan for as long as two to five times longer than the paper.
The data are based on the 1000-piso polymer notes launched by the BSP in April 2022, Gundran said. The new polymer banknote denominations feature wildlife that can only be found in the Philippines.
This January 2025, the BSP has rolled out 70-90 million pieces in P500, 100, 50, and 1,000 denominations, Gundran informed.
The new denominations of the polymer banknotes series may be withdrawn over-the-counter in banks while the 500 and 100 piso polymer banknotes will also be available through Automated Teller Machines once ATMs are already calibrated.
Gundran clarified that the that the paper banknotes will still remain in circulation.
Meanwhile, he called on the public to properly handle banknotes and coins to prolong their lifespan.
“Bilang Pilipino pangalagaan po natin ang intigridad ng ating mga pera dahil ito ay sumisimbolo ng ating Philippine pride,“ Gundran said.
[As Filipinos, we should preserve the integrity of our money because it symbolizes our Philippine pride.]
Gundran explained that mutilated banknotes are valid for redemption if the following requirements are met: the remaining surface area is not less than 60 percent of the original size of the banknote; a portion of any of the signatures of the President or BSP governor remains; and the presence of the embedded security thread.
Banknotes whose security threads are removed will not be valid for redemption, he said.
He also stressed that folded banknotes, whether paper or polymer, must be accepted in all payment transactions.
For further information regarding BSP concerns, visit the BSP-NLRO office located at No. 14 Loakan Road, Loakan-Apugan, Baguio City. (JDP/MAWC-PIA CAR)
