BSP launches Duterte-signed bank notes

BSP launches Duterte-signed bank notes

MANILA – – Twenty-seven million pieces or PHP8.75 billion worth of new generation currencies (NGCs) signed by President Rodrigo Roa Duterte will be available starting Tuesday this week.

In a briefing, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said 100 boxes, each with 50,000 pieces, of the PHP20, PHP50, PHP100, PHP500, and PHP1,000 bills will be distributed to banks nationwide.

The number of PHP20 bills, on the other hand, was lower with only 40 boxes due to less demand for this denomination, he said.

“With the change over from President (Benigno) Aquino (III) to President Duterte, the signatory to the bank note series starting this year will be President Rodrigo Roa Duterte,” he said.

Duterte’s official term as the country’s Chief Executive started on June 30, 2016.

Guinigundo stressed that the only change in the NGCs, which was launched in December 2010, is the signature of the President, citing that BSP Governor Amando Tetangco Jr. is still the other signatory to the bank notes.

“The design, the size, the dimension, the security features – they are all the same, except the signatory, who is now the president of the republic, President Rodrigo Roa Duterte,” he said.

“Our SPC, this is the Security Printing Complex, will continue to produce this Duterte-signed NGC bank notes and we will continue to distribute this not only in NCR but also in areas outside NCR,” he added. Joann Santiago/PNA-northboundasia.com