President Ferdinand R. Marcos Jr. unveiled the first Philippine polymer banknote series on December 19, 2024, at Malacañang Palace.
This historic launch includes new denominations of PHP 50, PHP 100, PHP 500, and the previously introduced PHP 1,000 note.
“It builds on the success of the 1,000-peso polymer note introduced in April of 2022 and aligns with the global best practice of updating currency features every 10 years,” the President explained.
He also cited that polymer banknotes have been adopted by over 40 countries worldwide, including Australia, Canada, the United Kingdom, and Singapore.
“The Philippines proudly joins their ranks, ensuring that our currency remains secure, durable, and sustainable,” he remarked.
“Polymer banknotes are designed to keep up with the demands of everyday life. Unlike paper bills, which wear out after about a year, a year and a half, polymer banknotes can last up to seven and a half years—five times longer,” President Marcos assured.
The new designs feature native species such as the Visayan spotted deer and the Palawan peacock-pheasant, symbolizing clarity and grace.
Marcos reminded the public that existing paper banknotes will continue to circulate and remain valid.
“There is no need to worry about that, the cash in your wallet is — still has its value. The polymer banknotes are simply a step forward—stronger, more durable, better suited to today’s demands, while still preserving the essence of what makes our currency truly Filipino,” he said.
The new series will be available in limited quantities starting December 23 in Greater Manila, with broader distribution planned for January 2025.
