10 million pieces of the new P1,000 peso bill, have been released

According to the Bangko Sentral ng Pilipinas (BSP) on Tuesday, it released 10 million pieces of new P1,000 Polymer banknotes made in Australia.

According to the central bank, by 2023, a total of 500 million pieces of polymer banknotes are expected to be in circulation along with old P1,000 paper banknotes.

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In December, the BSP released a new design of the P1,000 polymer note approved by the National Historical institute.

In the new design, the heroes Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos of the Philippine Eagle were replaced.

It is learned that the central bank has even taken the service of the Reserve Bank of Australia in making money. The same materials were used in the currencies of Australia, Canada, Mexico, New Zealand, and the United Kingdom.

The BSP reiterated Governor Benjamin E. Diokno's statement that the demonetization of current banknotes and coins in circulation is still effective and will not take place.