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Bangko Sentral ng Pilipinas Transitions to Polymer Banknotes

The Bangko Sentral ng Pilipinas explains that they continuously look for ways to improve their banknotes in response to the evolving needs of Filipinos and the availability of modern technologies. One such improvement is the use of polymer banknotes, which are known to be smarter (more secure and sustainable), cleaner (more hygienic and sanitary), and stronger (durable and cost-effective) than paper banknotes. The BSP began circulating the new polymer PHP1,000 banknotes in April 2022.

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