On Thursday, December 19, 2024, President Ferdinand R. Marcos Jr. and the Bangko Sentral ng Pilipinas (BSP) unveiled the new designs of the remaining three banknotes in its First Philippine Polymer Banknote (FPP) series.
"The first Philippine polymer banknote series, which includes the PHP1,000, PHP500, PHP100, and PHP50 denominations, marks a historic moment for our country. It builds on the success of the PHP1,000 polymer note introduced in April of 2022 and aligns with the global best practice of updating currency features every 10 years," Marcos said. "Polymer banknotes are designed to keep up with the demands of everyday life. Unlike paper bills, which wear out after about a year, a year and a half, polymer banknotes can last up to seven and a half years—five times longer," he added. Marcos said the upgrading the Philippine currency would make it difficult for unscrupulous individuals to counterfeit the polymer banknotes, given its advanced security features. He also noted the significant drop in counterfeiting in countries like Malaysia and Vietnam after their introduction of polymer banknotes.
All polymer banknotes in the new FPP series showcase images of native, protected species as well as local weave designs. Endemic flowers are used as small, transparent windows. The four polymer denominations have the following designs:
50 Piso: The vulnerable Visayan leopard cat (formerly Prionailurus bengalensis rabori, now Prionailurus javanensis sumatranus) replaces former president Sergio Osmeña on the obverse. The Visayan leopard cat, known locally as maral, is a Sunda leopard cat that lives on the Philippine Islands of Negros, Cebu and Panay. The front also features Vidal's lanutan (Hibiscus campylosiphon), a large endemic flower. Taal Lake and the giant trevally (the largest fish in the genus Caranx) are still featured on the reverse.
100 Piso: The endangered Palawan peacock-pheasant (Polyplectron napoleonis) replaces former president Manuel Roxas on the obverse. The Palawan peacock-pheasant is a medium-sized (up to 50cm long) bird in the family Phasianidae, endemic to the island of Palawan. The Ceratocentron fesselii orchid is also shown on the front. The Mayon Volcano and the whale shark are still featured on the reverse.
500 Piso: The critically endangered Visayan spotted deer (Rusa alfredi) replaces former President Corazon Aquino and her husband, Senator Benigno Aquino Jr. The Visayan spotted deer is a small, endangered, primarily nocturnal species of deer found in the rainforests of the Visayan Islands of Panay and Negros. Also showcased is the Acanthephillium mantinianum, an endemic orchid. The Puerto Princesa Subterranean River National Park and the blue-naped parrot are still featured on the reverse.
1000 Piso: The critically endangered Philippine eagle (Pithecophaga jefferyi), the national bird of the Philippines, and the sampaguita (Jasminum samcac), the national flower of the Philippines, are shown on the front of the banknote. Tubbataha Reefs National Park and the South Seal pearl are featured on the reverse. This note was awarded "Banknote of the Year 2022" by the International Bank Note Society, reported here:
This banknote was introduced here in this polymer forum:
Security features include:
- a vertical, transparent window on the right featuring the country's coat of arms, the BSP logo and the denomination for the 500 and 1000.
- a small transparent window on the left in the shape of the specific flower per denomination.
- the denomination at left as a SPARK® color-changing security feature on the 500 and 1000.
- tactile dots for the visually impaired on all denominations.
- vivid and distinct banknote colors.
- high-contrast numerals.
The current 20-piso New Generation Currency (NGC) banknotes are being removed from circulation through natural attrition after the introduction of the 20-piso NGC coin. The end of the production for the 200-piso New Generation Currency (NGC) banknote was approved in 2021 due to low usage since its launch in 2010. The 200-piso NGC banknote remains legal tender until it becomes unfit for recirculation.
The new polymer banknotes will be available nationwide starting in January 2025, alongside the paper banknotes of the same denominations. The BSP said that beginning December 23, they will be available in limited quantities in the Greater Manila Area. All paper banknotes currently in circulation will remain in circulation.
The following video presents the First Philippine Polymer Banknote (FPP) series:
