“A nation’s culture resides in the hearts and in the soul of its people,” – Mahatma Gandhi
The Bangko Sentral ng Pilipinas has just revealed the designs for the new polymer or plastic banknotes featuring animals indigenous to the Philippines instead of national heroes. On Thursday, the BSP presented the new designs for the 500, 100, and 50 peso bill to President Ferdinand Marcos Jr. They also included in “First Philippine Polymer Banknotes Series” is the 1000-peso bill which was introduced in April 2022.
The Bangko Sentral ng Pilipinas stated that the new bills showcase the Philippines’ rich biodiversity and cultural heritage, as they feature images of native and protected animals and plants alongside traditional local weave designs. BSP Governor Remolona said that the polymer series raises awareness of the country’s threatened species, serves as the symbol of Filipino identity, and fosters animal pride.
The 1000 pesos bill features the Philippine eagle and sampaguita flower. The 500 peso bill has the Visayan spotted deer and Acanthephippium mantinianum. The 100 peso bill showcases the Palawan peacock-pheasant and Ceratocentron feselii, while the 50 peso banknote shows the Visayan leopard cat and Vidal’s lanutan. The series preserves notable elements that highlight the Philippines’ natural beauty and artisanal crafts.
The polymer banknotes can co-circulate alongside paper banknotes and they can be both used as payments, according to the Bangko Sentral ng Pilipinas. “Despite the rise of cashless transactions, there will still be a need for banknotes,” said Remolona. Remolona also added that there will still be a need for cash especially for people and businesses that have the least access to technology, it is especially for them that we are adding these polymer notes to our currency. In his speech, Marcos highlighted that the polymer banknotes are designed to keep up with the demands of everyday life.
