The Bangko Sentral ng Pilipinas (BSP) on Saturday released a new design of the P1,000 polymer bank notes which are considered to be more durable.
BSP Governor Benjamin Diokno said the note was designed by BSP and approved by NHI (National Historical Institute) and its issuance has been approved by the Monetary Board and the Office of the President.
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The banknote will be released next year and features the Philippine eagle in front replacing heroes Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos.
In a Viber group message, Diokno said, “The new series will focus on fauna and flora in the Philippines.”
The central bank chief said that they are targetting the release on the fourth week of April 2022.
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For the production of the polymer banknotes, the Philippine central bank tapped Reserve Bank of Australia and its wholly-owned subsidiary Note Printing Australia.
The polymer-based banknotes are said to be more hygienic, sustainable, environmentally friendly, more durable and more cost effective and will also have additional security features to make them difficult to counterfeit.
LOOK: PH releases new design of Php1,000
Source: Pinoy News Udpates PH
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