Bangko Sentral ng Pilipinas (BSP)’s Governor Benjamin Diokno and other Monetary Board members presented the new 1,000-peso polymer banknote to President Rodrigo Duterte at a ceremony held at the Malacañang Palace on Wednesday, April 6, 2022.
Polymer, being a material composed of plastic, the BSP believes that shifting into polymer bills can help to impose “less risk of damage and more hygienic alternative than to the traditional paper banknotes also in line with today’s state of biological hazard due to the COVID-19.
The feature of the 1000-peso polymer banknote features the National Bird of the Philippines, Philippine Eagle.
Along with the eagle are the Sampaguita flowers on one side of the bill, while pictures of Tubbataha Reefs Natural Park, South Sea Pearl, and T’nalak weave design are situated on the reverse side of the bill.
With the obtained approval from the Office of the President, the issuance and release of the new polymer banknote is set to be seen in phases and in the public starting on a Monday, April 18, 2022.
However, the use and circulation of the new banknote can be used alongside the current design of the 1000-peso bill, both can be used for payments.
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