Published: Wednesday 14 December, 2016

New ‘Duterte Peso Bills’ Bearing His Signature Out Next Week – BSP

A new series of Philippine peso bills will be out soon. The new series will gradually replace the existing paper currency signed by Noynoy Aquino.

Duterte peso bills released next week

New peso bills bearing Duterte’s signature out next week. (PHOTO: BSP)

The new ‘Duterte peso bills’ will be released next week, according to the Bangko Sentral ng Pilipinas. Bearing President Rodrigo Duterte’s signature, the first batch will be out just in time for Christmas when crisp paper bills are traditionally given to children as gifts, or aguinaldo.

“The notes are ready. The first batch is expected to be released next week after completing the approval and release procedures with the banks,” BSP Governor Amando M. Tetangco Jr.

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New peso bills bearing the signature of the newly-elected president are traditionally released just before his first yearend in office. It is then widely circulated by the first quarter of the following year. From now on, the BSP will only print peso bills with Duterte’s signature until his term ends.

Duterte peso bill

The new peso bill bearing Duterte’s signature, via 24 Oras.

Starting next year, however, another new signature will be added. BSP Governor Amando M. Tetangco Jr. is set to end his term in office in July. Once his replacement is named, the process of adding the new governor’s signature to Philippine bank notes will begin.

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According to the BSP, the new ‘Duterte peso bills’ shall be issued to authorized agent banks from where the public can withdraw them, or exchange their old notes.

To be clear, only the president’s signature will change in the Philippine peso bills. No other changes have been made as the design is relatively new.



Source(s) :

PNA, Inquirer, GMA News