Bangko Sentral ng Pilipinas recently released information graphics answering frequently asked questions about the polymer banknotes in a bid to address public concerns and misconceptions.
Posted on BSP’s official Facebook page, the educational materials aim to raise public awareness about the transition to polymer currency and the future of paper bank notes.
Contrary to speculations, the BSP clarified that paper banknotes will remain in circulation and will not be demonetized.
“Ang perang papel ay patuloy na magagamit kasama ng mga bagong polymer banknotes. Ang mga perang papel ay mananatiling legal tender,” BSP stated.
The BSP explained its justification for incorporating wildlife into the new polymer banknotes, indicating that the updated designs draw attention to the nation’s abundant biodiversity, presenting distinctive fauna as a representation of national pride and an illustration of the Philippines’ vibrant numismatic art.
“Ang BSP ay laging nagtatampok ng mga bayani at likas na yaman ng bansa sa ating pera. Habang ang mga perang papel—na mananatili sa sirkulasyon—ay nagtatampok ng mga bayani, ang bagong serye ng polymer banknotes ay magpapakita ng mayamang biodiversity ng Pilipinas,” it said.
“Ang pagpapakita ng iba’t ibang simbolo ng national pride sa ating pera ay sumasalamin sa numismatic dynamism at sining at nagtataguyod ng pagpapahalaga sa pagkakakilanlan nating mga Pilipino,” BSP added.
The shift to polymer notes is driven by sustainability concern following a 2023 independent study that claimed that ₱1,000 polymer banknote has a 38.4 lower carbon footprint compared to its paper counterpart.
BSP said that the polymer banknotes are more resistant to the Philippines humid climate, with properties that make them less susceptible to water, dirt, and oil damage.
Not all denominations are transitioning, it said. The ₱20 and ₱200 notes are excluded from the series because of practicality and low circulation levels, respectively.
“Hindi kabilang sa polymer series ang 200-piso at 20-piso na denominasyon. Ang mga 20-Piso New Generation Currency (NGC) banknote ay kasalukuyang inaalis sa sirkulasyon sa natural na proseso matapos ipakilala ang 20-Piso NGC coin. Samantala, ang pagtigil ng produksyon ng 200-piso New Generation Currency (NGC) banknote ay inaprubahan noong 2021 dahil kaunti lamang ang gumagamit nito simula nang ilunsad ito noong 2010. Mananatiling legal tender ang 200-piso NGC banknote hanggang sa ito ay hindi na angkop para sa sirkulasyon. Tinitiyak ng BSP ang patuloy na availability ng iba pang denominasyon ng banknote,” the BSP further clarified.
Concerns about the local abaca industry’s future were also addressed. The BSP said that while polymer notes are being introduced, paper banknotes—which rely on abaca—will still be in use.
The BSP expressed its continued support for the abaca industry, citing that there are opportunities for growth in both local and international markets.
BSP added that folded polymer and paper notes must still be accepted as payment in all transactions.
Reports of refusal can be directed to BSP, the Department of Trade and Industry, or the Land Transportation Franchising and Regulatory Board.
Although folding notes is not penalized, it encouraged the public to maintain proper handling to prolong their lifespan.
Additionally, the BSP warned that exposing polymer notes to extreme heat or attempting to iron them could damage the notes.
“Tulad ng perang papel, hindi dapat plantsahin o idarang sa matinding init o lamig ang polymer banknote,” it said.
