BSP to Launch New Polymer P500, P100, and P50 Banknotes in 2025

The Bangko Sentral ng Pilipinas (BSP) will introduce the country's first-ever Philippine polymer banknote series in the first quarter of 2025, marking a significant shift in the country's currency. The new polymer banknotes—denominations of P500, P100, and P50—will circulate alongside the existing paper banknotes.

This move comes as part of the BSP's ongoing efforts to enhance the durability, cleanliness, and sustainability of the nation's currency. The polymer banknotes will feature improved security and accessibility features, including enhancements for visually impaired Filipinos. While the colors of the new polymer notes will remain the same (yellow for P500, violet for P100, and red for P50), their distinct polymer substrate will make them easily recognizable.

Notably, the BSP chose not to release a polymer version of the P200 banknote, citing lower demand for this denomination.

Features of the Polymer Banknotes

The new polymer notes will be more resilient, with a longer lifespan, resistance to water, dirt, and wear. They are also environmentally friendly, as polymer banknotes are more recyclable compared to paper banknotes made from cotton and abaca. The switch to polymer is expected to reduce the frequency of replacements and ultimately provide cost savings, despite the initial higher production costs.

In addition, the polymer notes are less prone to bacterial and viral transmission, thanks to their smooth, non-absorptive surface.

Biodiversity and Environmental Focus

The polymer banknotes will continue to reflect the BSP's commitment to promoting environmental sustainability. According to BSP, the series will highlight the Philippines' rich biodiversity and protected wildlife, with designs that encourage Filipinos to take care of their natural resources and work toward a sustainable future.

Future Plans

The BSP is expected to announce more details regarding the design and rollout schedule of these polymer notes soon. The Philippines' journey with polymer banknotes began in 2022 with the release of the P1,000 polymer note, featuring the Philippine eagle, which continues to circulate alongside its paper counterpart.

This latest step in currency innovation aligns with the BSP's commitment to enhancing the security, longevity, and environmental impact of the country's money.