Coming soon: Polymer 500, 100, 50 peso banknotes

The Bangko Sentral ng Pilipinas (BSP) is preparing to introduce the first Philippine polymer (FPP) banknote series in the first quarter next year, a significant step in the country's efforts to modernize its currency.

- KEISHA TA-ASAN

"The BSP is targeting to launch the new polymer banknote series in the first quarter of 2025," the central bank said.

In a social media post, the BSP said new polymer banknotes will have "smarter, cleaner and stronger" features, offering improved security and durability compared to traditional paper banknotes.

The initial rollout will include the P500, P100 and P50 denominations, with the BSP opting not to produce polymer versions of the P200 banknote due to low demand.