PHILIPPINE peso bills with the signature of President Rodrigo Duterte will be out in circulation next week, the central bank announced Wednesday.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said the initial batch of New Generation Currency banknotes with the signatures of President Duterte and BSP Governor Amando Tetangco Jr., was ready for release to the public.
The banknotes will be issued to authorized agent banks once the approval process is completed, it said.
“The notes are ready. The first batch is expected to be released next week after after completing the approval and release procedures with the banks. So next week ... [it will be out and] issued to the banks. And therefore made available to the public by next week,” Tetangco said.
Earlier, the BSP estimated that about P3 billion worth of banknotes containing Duterte’s signature would be printed annually.