MANILA, Philippines (UPDATED) - Malacañang reporters got a sneak peak of the new peso bills that bear President Benigno Aquino III’s signature when Bangko Sentral Governor Amando Tetangco Jr. presented to President Aquino a set of the new peso bills on Thursday.
Bangko Sentral ng Pilipinas (BSP) Corporate Affairs director Fe dela Cruz said the BSP will start distributing the new bills tomorrow (Nov. 26). She said printing of the new bills started after President Aquino’s inauguration.
This is one in a series of massive facelift for banknotes and coins that aim to further enhance security features and improve durability. "The original design of the banknotes and coins was made 3 decades ago,” BSP chief Amando M. Tetangco Jr. had previously explained.
The BSP's numismatic committee composed of central bank officials led by Bangko Sentral Deputy Gov. Diwa Guinigundo with representatives from the national historical commission worked on the design of the new banknotes and coins.
In December, the BSP will launch another set of new peso bills with new design and upgraded security features. All denominations will bear new designs.
The new P500 banknote that will be launched in December will bear the faces of Senator Benigno S. Aquino Jr. and former President Corazon Aquino.
“We start the new year with new set of banknotes,” Dela Cruz told reporters.
The BSP said it will be difficult to counterfeit the new bills.
“The security features are more difficult and will be more costly for counterfeiters to copy pero mas madali po for the public na ma-identify kung alin ang counterfeit, at alin ang genuine,” she said.
Since the current bills will not lose their value and will remain a legal tender for another 3 to 4 years, BSP reminded the public to take care of the peso bills.
“Huwag po nating lukutin, basain, sulatan. Ingatan ang ating salapi, larawan ito ng ating yamang lahi. Ingatan po natin dahil national symbol po natin ang ating pera. Ito po yung nagpapahiwatig ng ating values at mga bayani natin,” Dela Cruz stressed.
New designs and security features will soon be available for the other banknotes—P20, P50, P100, P200, and P1,000—as well as for the one-centavo, five-centavo, 10-centavo, 25-centavo, P1, P5 and P10 coins.