The First Philippine Polymer Banknote (FPP) Series has been launched! The Bangko Sentral ng Pilipinas (BSP) unveiled new banknote designs in denominations of P500, P100, and P50, featuring the country’s native species and traditional weave designs.
Photo: BSP
This follows the release of the new P1,000 polymer banknote in 2022, which highlights the Philippine eagle and Sampaguita flower.
BSP noted that each denomination of polymer banknotes boasts unique, native, and endangered Philippine species as well as cultural elements that celebrate the country’s heritage.
The P500 features the Visayan spotted deer, symbolizing clarity and sharpness.
Photo: BSP
The P100 showcases the Palawan peacock-pheasant, reflecting the grace of Filipinos even in challenging times.
Photo: BSP
The P50 depicts the Visayan leopard cat, representing independence and agility.
Photo: BSP
According to the BSP, the FPP series also preserves notable elements from the paper banknotes, showcasing the Philippines’ natural beauty and artisanal crafts. Here are the elements included in each denomination:
- P1000: Tubbataha Reefs Natural Park, South Sea Pearl, and the T’nalak weave design
- P500: Puerto Princesa Subterranean River National Park, blue-naped parrot, and Southern Philippine weave design
- P100: Mayon Volcano, whale shark, and Bicol Region weave design
- P50: Taal Lake, native maliputo fish, and Batangas embroidery design
BSP Governor Eli Remolona Jr. emphasized that the FPP series “raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride.”
Meanwhile, President Bongbong Marcos stated during the launch of the FPP series that polymer banknotes are designed to meet the demands of everyday life.
“Polymer banknotes are designed to keep up with the demands of everyday life. Unlike paper bills, which wear out after about a year or a year and a half, polymer banknotes can last up to seven and a half years, five times longer,” he said.
“And that means that we no longer need to replace them as often, saving money, cutting down on waste, and making a meaningful contribution to protecting the environment.”
BSP also reiterated that polymer banknotes are smarter, cleaner, and stronger.
The new polymer banknotes will be in circulation starting December 23 in the Greater Manila Area but only in limited quantities. It will be available across the country in January 2025.
Marcos reminded the public that paper banknotes will remain valid and in circulation.
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