Redesigned New Generation Currency (NGC) banknotes have been issued by the Bangko Sentral ng Pilipinas (BSP), which said it wanted to highlight moments in the country’s history in line with a mandate of preserving currency integrity.
“The Philippine banknotes remain a constant reminder of … Philippine patriotism and bravery and centuries of journey for the Filipino people’s better future,” it said in a statement on Tuesday.
The “enhancements” comprise the following:
• Images on the obverse side of the 200-piso banknote have been changed to a depiction of the declaration of Philippine independence and the opening of the Malolos Congress instead of the Aguinaldo Shrine in Kawit and Barasoain Church in Malolos;
• The text on the 50-piso note was expanded to “Leyte Landing October 1944” instead of just “Leyte Landing”;
• The image of the Order of Lakandula medal and the phrase “Medal of Honor” was removed from the observe side of the 1,000-piso note;
• The format of the scientific names and the font size of the year mark in the 20-, 50, 100-, 200-, 500-, and 1,000-piso banknotes were changed; and
• All new NGC banknotes now bear the signature of the current BSP governor, Nestor Espenilla Jr.
The new banknotes will be issued to authorized agent banks for withdrawal by the general public.
Further enhancements, including the addition of braille marks for the visually impaired and new security features, are also being considered by the Bangko Sentral.
Old NGC banknotes without the enhanced features will remain legal tender.
The NGC series was launched in 2009 to replace the New Design Series, which ceased to be legal tender at the start of last year. Those still holding NDS notes have until December 29, 2017 to exchange these at BSP offices and branches.
Last week, the BSP announced the advance release of the 5-piso NGC coin, with the rest of the series to be released for circulation in January next year.