THE Bangko Sentral ng Pilipinas (BSP) is producing fresh coins and bills this holiday season.
The central bank yesterday said there is a stronger demand for new currency during Christmas, as Pinoys give cash gifts to their loved ones.
The BSP reminded Pinoys that exchanging banknotes and coins, including unfit currencies, for crisp ones with their depository banks is free of charge.
It also encouraged Pinoys to send cash gifts electronically to their loved ones, because it is convenient, efficient, and “promotes a more digital and inclusive Philippine economy.”
The BSP has also announced that is introducing new designs for Philippine peso bills in the first quarter of 2025.
The new designs will feature Philippine plants, like the endemic Vidal’s lanutan and the critically-endangered Ceratocentron fesseli orchid.
It will also feature native Philippine animals like the Palawan peacock-pheasant or tandikan, and the Visayan leopard cat.
The central bank said paper money will remain in circulation and can still be used even after the new currency design is launched.
The BSP said polymer banknotes have about 38.4 percent less carbon footprint than paper money. It also stressed that folded bills are still considered legal tender, and must be accepted as payment. (ABS-CBN News)
