BSP Explains Reason For Not Including 20-Peso Bill In ‘Enhanced’ NGC Banknotes

BSP explained the reason for not including a 20-Peso bill in its “Enhanced” NGC Banknotes

The Bangko Sentral ng Pilipinas (BSP) explained its reason why a 20-Peso bill wasn’t included in their “Enhanced” New Generation Currency (NGC) banknotes.

Photo: Bangko Sentral ng Pilipinas

Benjamin Diokno, the Governor of the Bangko Sentral ng Pilipinas, said that they’re still making 20-peso banknotes, but they were only using the “available raw materials” for it.

Diokno emphasized that the government could save more on making 20-peso coins just because it’s “long-term” compared to the previous 20-peso banknotes that were quickly fading.

Moreover, the Bangko Sentral ng Pilipinas clarified that the “Enhanced” New Generation Currency banknotes would be released into circulation in connection with the previously-launched New Generation Currency banknotes which would be removed gradually.

Other Stories

The announcement on the “Enhanced” New Generation Currency banknotes came a year after the Bangko Sentral ng Pilipinas had launched the 20-peso coin that would replace the currently-circulated 20-peso banknote.

Meanwhile, the Bangko Sentral ng Pilipinas currently produced the majority of Philippine Banknotes, adding that the Bangko Sentral ng Pilipinas planned to develop a “roadmap” in order to meet banknote requirements in the Philippines.

What can you say about this? Let us know in the comments below!

For more news and updates, you may follow Philippine Newspaper on Facebook!

Leave a Comment