PRESIDENT Ferdinand R. Marcos Jr. led the historic unveiling of the first Philippine polymer banknote series on Thursday.
The President described the introduction of the polymer banknotes as a groundbreaking step embodying the nation’s strength, ingenuity, and forward momentum.
“Today, I stand before you with pride as we unveil the first Philippine polymer banknote series— a groundbreaking step that embodies the strength, ingenuity, and forward momentum of our nation,” President Marcos said during the event in Malacañang.
“The introduction of the first Philippine polymer banknote series reflects the progress we are making as a Bagong Pilipinas—practical, innovative, and deeply meaningful.”
He said the Philippines is joining over 40 countries, including Australia, Canada, the United Kingdom, and Singapore, to have adopted polymer banknotes due to their proven benefits, ensuring that the country’s currency remains secure, durable, and sustainable.
Thursday’s unveiling builds on the success of the one-thousand-peso polymer note introduced in April 2022 and aligns with the global best practice of updating currency features every 10 years.
Polymer banknotes are designed to keep up with the demands of everyday life. Unlike paper bills, the modern banknotes can last up to seven and a half years—five times longer than their paper counterparts.
“And that means we no longer need to replace them as often, saving money, cutting down on waste, and making a meaningful contribution to protecting the environment,” the President said.
He also enumerated other benefits of using polymer banknotes in connection with health and hygiene, citing a study of the Department of Health finding polymer banknotes are cleaner than paper bills.
Another key advantage is security, the President said, noting the adoption of polymers will mitigate currency counterfeiting, which has always been a problem for economies around the world.
“By upgrading our currency, we are making sure that every hard-earned peso stays safe, whether it is saved, whether it is spent, or whether it is invested,” the President said.
He said other countries like Malaysia and Vietnam have seen significant drops in counterfeiting after switching to polymer notes.
The President also reminded the public that paper banknotes will continue to circulate and remain valid. He added there is no need to worry about the cash in their wallet, noting the use of polymer banknotes is simply a step forward.
President Marcos commended the Bangko Sentral ng Pilipinas (BSP) for its leadership and foresight in achieving the important milestone.
He pointed out the introduction of the polymer bills during the Yuletide season would add more excitement to kids receiving their aguinaldos.
The one thousand-peso polymer banknote carrying the image of the Philippine eagle, stands for the strength, freedom, and sharp vision of Filipinos, the President said.
Paired with the sampaguita, the national flower, it shows the people’s quiet resilience amid various challenges.
The five-hundred-peso note features the Visayan spotted deer symbolizing clarity and sharpness.
The one-hundred-peso note, on the other hand, showcases the Palawan peacock-pheasant, mirroring Filipinos’ grace even in challenging times.
The fifty-peso note which features the Visayan leopard cat symbolizes independence and agility.
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