BSP to release banknotes signed by PRRD

Welcome Christmas with “changed bills” as the Central Bank of the Philippines aka Bangko Sentral ng Pilipinas (BSP) is set to release banknotes bearing the signatures of President Rodrigo Roa Duterte and BSP Governor Amando M. Tetangco, Jr., tapped for an unprecedented third term as BSP governor, this week.

Also read: Expat Guide: The Philippine Peso

In a press release issued last December 14, BSP said the New Generation Currency (NGC) Banknotes are already ready for release to the general public. “These banknotes will be issued shall be issued to authorized agent banks once the approval process is completed,” the BSP said in the statement.

They also re-iterated their call for everyone to turn in their old banknotes, called the New Design Series (NDS), which were first issued in 1985. They also called on the public to use their coins in any business transaction through their National Coin Recirculation Program.

The BSP Coin Series, first issued in 1995, continues to be legal tender in all businesses across the country. BSP reiterated in their statement that “there is sufficient supply of coins as there are 25.8 billion pieces of coins in circulation valued at P28.95 billion as of 31 October 2016.”

 

All photos grabbed from bsp.gov.ph

Source: BSP Media Release, ABS-CBN News, Rappler, Manila Standard, The Philippine Star