Imagine holding a piece of history, art, and innovation in your hand. That’s what the Bangko Sentral ng Pilipinas (BSP) is offering with its new polymer banknotes. These aren’t just bills; they’re a statement—a blend of cutting-edge technology and Filipino identity. But like any bold move, it’s stirring up conversations, and not everyone’s on the same page.
Meet the Polymer Banknotes
First, let’s get the basics out of the way. These new banknotes are made of polymer, not paper. Why? Because polymer is tougher, cleaner, and smarter. It lasts up to five times longer than traditional notes and is better for the environment. Think fewer replacements and a smaller carbon footprint. Plus, it’s resistant to water, dirt, and grime—a game-changer for everyday transactions, especially in wet markets.
The BSP isn’t rolling out millions of these all at once. For now, between 70 to 90 million pieces of the Php50, Php100, and Php500 polymer notes will circulate. If you’re lucky, you might spot one this holiday season. By 2025, there’ll be more. And yes, the Php1,000 polymer note is already a seasoned player, with 661 million pieces out there.
Nature Takes Center Stage
Here’s the big pivot: the new designs move away from national heroes and dive into what makes the Philippines unique—its biodiversity. Endangered species like the Philippine eagle, Visayan spotted deer, and Palawan peacock-pheasant now grace these notes. Add in traditional Filipino weave patterns, and you’ve got something that feels fresh and grounded in culture.
“Bukod sa heroes, we are also known for our rich biodiversity,” said Atty. Sarah Severina Curtis of the BSP. It’s a deliberate choice to highlight a side of Filipino identity that often goes unnoticed.
A Stirring Debate
But here’s where things get tricky. For decades, heroes like Corazon Aquino, Sergio Osmeña, and Manuel Roxas have been on our money, reminding us of the sacrifices and victories that shaped the nation. Now, they’re missing from these polymer notes.
Groups like the August Twenty-One Movement (ATOM) aren’t thrilled. They see this shift as a step toward erasing history, especially given the country’s complex political landscape.
“Are we better off forgetting those who have fallen during the night?” ATOM asked.
Even Senators Chiz Escudero and Koko Pimentel are raising their eyebrows, asking the BSP to explain why these changes were made. The BSP’s response? Paper notes featuring heroes will still circulate. This isn’t a goodbye—just a diversification of what’s on display.
Why Go Polymer?
Let’s not forget why this change happened in the first place. Polymer notes are built to last. They’re harder to counterfeit, align with global trends, and can handle the wear and tear of daily life in a tropical country.
Sure, they cost more to produce upfront and are currently printed in Australia, but the BSP is working on building local capacity. Over time, these notes are expected to save money by reducing the need for frequent replacements. Countries like Canada, Australia, and New Zealand have seen similar benefits after switching to polymer.
What About Abaca?
Here’s another layer to the conversation: the local abaca industry. Traditional Philippine paper notes used abaca fiber, a key export and livelihood for many Filipinos. Critics worry that the shift to polymer could leave this sector in the lurch.
The BSP reassures that both polymer and paper notes will co-exist, at least for now. But the 200-piso note? It’s being phased out entirely. Low demand sealed its fate back in 2021, though it remains legal tender until it’s unfit for use.
Moving Forward
So, what’s the takeaway? The new polymer banknotes are a bold step into the future—durable, innovative, and undeniably Filipino. But like all bold moves, they come with trade-offs.
Is this a celebration of progress? A step toward honoring our natural heritage? Or does it risk sidelining the heroes who remind us of where we’ve been?
One thing’s for sure: these notes aren’t just currency. They’re conversation starters, each one sparking a debate about what it means to be Filipino.
Sources
- ABS-CBN News: BSP confirms no Philippine heroes on polymer banknotes
- Inquirer: BSP to Release Less than 100M Pieces Each of New Notes
- BSP Official Poster: First Philippine Polymer Banknote Series
