Banknotes of the Philippine peso

File:Philippine_peso_NGC_series_banknotes.png|thumb|New Generation Currency Series banknotes.

rect 5 5 195 80 Philippine twenty peso note

rect 5 90 195 165 Philippine fifty peso note

rect 5 175 195 250 Philippine one hundred peso note

rect 205 5 395 80 Philippine two hundred peso note

rect 205 90 395 165 Philippine five hundred peso note

rect 205 175 395 250 Philippine one thousand peso note

</imagemap>

thumb|Early issue 1896 10 pesos note from El Banco Español-Filipino (1896).

Banknotes of the Philippine peso are issued by the Bangko Sentral ng Pilipinas (formerly the Central Bank of the Philippines) for circulation in the Philippines. The smallest denomination of banknote currently in circulation is ₱20 and the largest is ₱1000. The front side of each banknote features prominent people along with buildings and events from the country's history, while the reverse side depicts landmarks and animals.

The dimensions of banknotes issued since the US-Philippine administration, , have remained the same on all subsequent Philippine peso banknotes (except pre-1958 centavo notes), and were introduced during William Howard Taft's tenure as governor-general of the Philippines. In view of their highly successful run, President Taft then appointed a committee that reported favorably on the advantages and savings from changing the size of United States banknotes to Philippine-size.

Since 1928, the sizes of the United States Federal Reserve Notes and Philippine banknotes have therefore been nearly identical.

History

Timeline of the Philippine banknote series

On May 1, 1852, the first commercial bank of the Philippines, El Banco Español Filipino de Isabel II, initially issued the following denominations: 10, 25, 50 and 200 pesos fuertes (strong pesos). They were used until 1896.

File:PHL - 50 pesos fuertes anverso.jpg|50 peso fuerte

File:Treasury25note.jpg|25 peso fuerte

</gallery>

First Philippine Republic

The revolutionary republic of Emilio Aguinaldo ordered the issuance of 1, 2, 5, 10, 20, 50 and 100-peso banknotes which were signed by Messrs. Pedro A. Paterno, Telesforo Chuidan and Mariano Limjap to avoid counterfeiting. However, only the 1 and 5-peso banknotes have been printed and circulated to some areas by the end of the short-lived First Republic.

American Period

By 1903, the American colonial Insular Government had issued Silver Certificates in denominations of 2, 5 and 10 pesos, backed by silver pesos or U.S. dollars at a fixed rate of ₱2/$1. The authorization of the issuance of Philippine Silver Certificates were placed on the notes, "By Authority of an Act of the Congress of the United States of America, approved March 2, 1903." The first shipment of the currency was sent to the Philippines on September 1, 1903, and issued in October of the same year.

In 1905, higher denominations of 20, 50, 100 and 500 pesos were printed. However, amendments were made before the shipment of the notes from the United States to the Philippines to allow gold to be included as a reserve for the Silver Certificates. As the Series of 1905 was printed, but not yet shipped, they were sent to the United States Government Printing Office, and overprinted vertically with, "Subject to the provisions of the Act of Congress, approved June 23, 1906."

File:Philippine 100 peso Silver Certificate (Series 1905).jpg|100 peso bill Silver Certificate (1905)

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In 1908, the El Banco Español Filipino was allowed to print banknotes in the following denominations with text in Spanish: Cinco (5), Diez (10), Veinte (20), Cincuenta (50), Cien (100) and Dos Cientos (200) Pesos. In 1912, the bank was renamed Bank of the Philippine Islands (BPI) and henceforth issued the same banknotes in English.

In 1918, the Silver Certificates were replaced by the Treasury Certificates issued with government-backing of bonds issued by the United States Government in 1, 2, 5, 10, 20, 50, 100 and 500 pesos. In 1916, the Philippine National Bank (PNB) was created to administer the state-holding shares and print banknotes without any quota from the Philippine Assembly. They printed banknotes in denominations of 1, 2, 5, 10, 20, 50 and 100 pesos. During World War I, the PNB issued emergency notes printed on cardboard paper in the following denominations: 10, 20, 50 centavos and 1 peso. Also overprinted were BPI notes in 5, 10 and 20 pesos due to the lack of currency.

The Commonwealth of the Philippines issued Treasury Certificates with the seal of the new government but still circulated the BPI and PNB banknotes.

Japanese government-issued Philippine peso

1942 series

{| class="wikitable"

! scope="col" style="width:175px;"| Image

! scope="col" style="width:100px; "| Value

! scope="col" style="width:75px;"| Issue date

! scope="col" style="width:50px;"| Series

|175px

|1 centavo

| rowspan="7" |1942

| rowspan="7" |First

|175px

|5 centavos

|175px

|10 centavos

|175px

|50 centavos

|175px

|1 peso

|175px

|5 pesos

|175px

|10 pesos

1943–1945 series

{| class="wikitable"

! scope="col" style="width:175px;"| Image

! scope="col" style="width:100px; "| Value

! scope="col" style="width:75px;"| Issue date

! scope="col" style="width:50px;"| Series

|175px

|1 peso

| rowspan="3" |1943

| rowspan="6" |Second

|175px

|5 pesos

|175px

|10 pesos

|175px

|100 pesos

| rowspan="2" |1944

|175px

|500 pesos

|175px

|1,000 pesos

|1945

Banknotes conceptualized and issued by the Bangko Sentral ng Pilipinas

Summary of the Philippine banknote series

{| class="wikitable" style="margin:auto; font-size:90%;"

! colspan="11" |Summary of the Philippine banknote series

! Series/Value !! ₱1!! ₱2!! ₱5!! ₱10!! ₱20!! ₱50!! ₱100!! ₱200!! ₱500!! ₱1000

|- style="height:62px"

! English Series

| 60 px|1 peso

| 60 px|2 pesos

| 60 px|5 pesos

| 60 px|10 pesos

| 60 px|20 pesos

| 60 px|50 pesos

| 60 px|100 pesos

| 60 px|200 pesos

| 60 px|500 pesos

| rowspan="3" | not introduced until 1991

|- style="height:62px"

! Pilipino Series

| 60 px|1 peso

| —

| 60 px|5 pesos

| 60 px|10 pesos

| 60 px|20 pesos

| 60 px|50 pesos

| 60 px|100 pesos

| rowspan="2" | withdrawn from production in 1959, and reintroduced in 2002

| rowspan="2" | withdrawn from production in 1959, and scheduled to be reintroduced in 1985 but delayed two years later in 1987

|- style="height:62px"

! Ang Bagong Lipunan Series

| rowspan="5" | ended production and replaced as coin since 1972

| 60 px|2 pesos

| 60 px|5 pesos

| 60 px|10 pesos

| 60 px|20 pesos

| 60 px|50 pesos

| 60 px|100 pesos

|- style="height:62px"

! New Design/BSP Series

| rowspan="4" | ended production and replaced as coin from 1983 to 1994

| 60 px|5 pesos

| 60 px|10 pesos 60px|10 pesos

| 60 px|20 pesos

| 60 px|50 pesos

| 60 px|100 pesos

| 60 px|200 pesos

|60 px|500 pesos

| 60 px|1000 pesos

|- style="height:62px"

! New Generation Currency Series

| rowspan="3" | ended production and replaced as coin since 1995

| rowspan="3" | ended production and replaced as coin since 2001

| 60 px|20 pesos obverse (2017 edition)

| 60 px|50 pesos obverse

| 60 px|100 pesos obverse (2010 edition) 60 px|100 pesos obverse (stronger mauve color)

| 60 px|200 pesos obverse (2010 edition)

| 60 px|500 pesos obverse

| 60 px|1000 pesos obverse (2012 edition)

|- style="height:62px"

! Enhanced New Generation Currency Series

| rowspan="2" | ended production and replaced as coin since 2023

| with: —1 pair of short lines

| with: —2 pairs of short lines —violet modified WST

| with: —3 pairs of short lines —green modified WST

| with: —4 pairs of short lines —gold modified WST —gold OVM ink —gold optically variable ink

| with: —5 pairs of short lines —blue 5mm DST —green OVM ink —green modified OVI

|- style="height:62px"

! First Philippine Polymer Series

| frameless|60x60px

| ended production since 2020

| frameless|60x60px

;Notes

windowed security thread with indigenous weave design pattern
WST - windowed security thread
OVM - optically variable magnetic
replacing optically variable device (OVD) patch
DST - dynamic security thread
shifts from green to magenta (in 2010 OVI, it was shifts from green to blue)
the denomination was scheduled to be reintroduced in 1985 with the original 1985–1986 Marcos Sr. version which already printed 2 million banknotes but it did not went into circulation due to EDSA 1, delaying the denomination's release to 1987 in order for it to be replaced by the second (Aquino Jr.) version that finally circulated to the public from 1987 to 2018
originally introduced in 1975. However, for the 5-piso banknote, it had its (together with the 10-piso banknote that stopped printing in 2001) spiritual successor as the 200-piso from 2002 to 2020 due to its green color, and Aguinaldo Shrine and Barasoain Church (from 2010 to 2020) were featured
it was intended as the "direct" replacement in 2002 for the unissued 2000-piso "New Millennium" banknote (smaller version of the 1998 Centennial) that was scheduled to be circulated for general circulation in 2001 but halted as the result of EDSA 2, and also the spiritual successor to the 5-piso and later with the Barasaoin Church from the 10-piso banknote from 2010 to 2020

"VICTORY-CBP" banknotes

The banknotes first issued by the Bangko Sentral ng Pilipinas (formerly the "Central Bank of the Philippines") were the VICTORY-CBP overprints in 1949, which were merely overprints of older American-era banknotes. The first official banknote series to be printed were the English Series in 1951.

{|class="wikitable" style="font-size: 90%"

!colspan="9"| "VICTORY-CBP" banknotes

! Obverse !! Reverse !! Obverse !! Reverse !! First issue !! Withdrawal

|99 px|center|frameless

| 1 peso

| rowspan="8" |

|Maroon

|Apolinario Mabini

| rowspan="8" | "VICTORY", "CENTRAL BANK OF THE PHILIPPINES", value

| rowspan="8" style="text-align:center;" | before 1949

| rowspan="8" style="text-align:center;" |

| 99 px|center|frameless

| 2 pesos

|Blue

|José Rizal

| 99 px|center|frameless

| 5 pesos

|Yellow

|William McKinley and George Dewey

| 99 px|center|frameless

| 10 pesos

|Brown

|George Washington

|99 px|center|frameless

| 20 pesos

|Orange

|Mayon volcano

|99 px|center|frameless

| 50 pesos

|Pink

|Henry Ware Lawton

|99 px|center|frameless

| 100 pesos

|#eedba3

|Ferdinand Magellan

|99 px|center|frameless

| 500 pesos

|Violet

|Miguel López de Legazpi

|colspan="9"|

English Series (1949–1971)

The English Series were Philippine banknotes that circulated from 1949 to 1969. It was the only banknote series of the Philippine peso to use English.

{|class="wikitable" style="font-size: 90%"

! colspan="10" | English Series

!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions

! colspan="2" rowspan="2" |Main Color!! colspan="2" | Description !!colspan="2"| Year

! Obverse !! Reverse !! Obverse !! Reverse !! First issue !! Withdrawal

! colspan="10" | Small denomination notes

| 99 px|5 centavos

| 5 centavos

| Red

| rowspan="4" | Bank title, bank seal, value, serial number

| rowspan="5" | "PHILIPPINES", value

| style="text-align:center;" rowspan=4| April 15, 1951

| style="text-align:center;" rowspan=4| June 30, 1958

| 99 px|10 centavos

| 10 centavos

| Maroon

| 99 px|20 centavos

| 20 centavos

| Green

| 50 centavos

| Blue

| 99px

| peso

| Green

| Mt. Mayon and three men riding on a carabao-drawn cart

| style="text-align:center;" | July 1, 1958

| style="text-align:center;" | February 28, 1969

! colspan="10" | Large denomination notes

| 99 px|1 pesos

| ₱1

| rowspan="9"|

| style="text-align:center; background:#5F5F5F;"|

| Gray

| Apolinario Mabini

| Barasoain Church

| style="text-align:center;" rowspan=9| April 15, 1951

| style="text-align:center;" rowspan=7| March 31, 1971

| 99 px|2 pesos

| ₱2

| style="text-align:center; background:#003399;"|

| Blue

| José Rizal

| Landing of Magellan in the Philippines

| 99 px|5 pesos

| ₱5

| style="text-align:center; background:#CC9900;"|

| Yellow

| Marcelo H. del Pilar and Graciano Lopez Jaena

| La Solidaridad

| 99 px|10 pesos

| ₱10

| style="text-align:center; background:#993300;"|

| Brown

| Fathers Mariano Gomez, Jose Burgos and Jacinto Zamora

| Urdaneta and Legazpi Monument

| 99 px|20 pesos

| ₱20

| style="text-align:center; background:#FF6600;"|

| Orange

| Andres Bonifacio and Emilio Jacinto

| Cartilla of the Katipunan and the Balintawak Monument

| 99 px|50 pesos

| ₱50

| style="text-align:center; background:#CC0000;"|

| Red

| Antonio Luna

| Blood compact between Sikatuna and Legaspi

| 99 px|100 pesos

| ₱100

| style="text-align:center; background:#FFCC00;"|

| Yellow

| Tandang Sora

| Regimental flags and the veterans

| 99 px|200 pesos

| ₱200

| style="text-align:center; background:#008000;"|

| Green

| Manuel L. Quezon

| Legislative Building

| style="text-align:center;" rowspan=2| December 31, 1959

| 99 px|500 pesos

| 99px|500 pesos

| ₱500

| style="text-align:center; background:#660066;"|

| Violet

| Manuel Roxas

| Former Central Bank Building

| colspan="10" |

Pilipino Series (1969–1974)

The Pilipino Series banknotes is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1969 to 1977, during the term of President Ferdinand Marcos Sr. This series represented a radical change from the English series by undergoing Filipinization and a design change. It was succeeded by the Ang Bagong Lipunan Series of banknotes, to which it shared a similar design. The lowest denomination of the series is 1-piso and the highest is 100-piso.

{|class="wikitable" style="font-size: 90%"

! colspan="10" | Pilipino Series

!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions

! colspan="2" rowspan="2" |Main Color!! colspan="2" | Description !!colspan="2"| Year

! |Obverse ||Reverse || Obverse ||Reverse||First issue !! width="80" |Withdrawal

| 99 px|1 pesos

| 99px|1 pesos

| ₱1

| rowspan="6" |

| style="text-align:center; background:#003087;"|

| Blue

| José Rizal

| Declaration of Philippine Independence

| rowspan="6" align="center" |May 5, 1969

| rowspan="6" align="center" |March 1, 1974

| 99 px|5 pesos

| ₱5

| style="text-align:center; background:#4A5C3D;"|

| Green

| Andres Bonifacio

| Blood Compact of the Katipuneros

| 99 px|10 pesos

| ₱10

| style="text-align:center; background:#502a1e;"|

| Brown

| Apolinario Mabini

| Barasoain Church

| 99 px|20 pesos

| ₱20

| style="text-align:center; background:#FF6600;"|

| Orange

| Manuel L. Quezon

| Malacañang Palace

| 99 px|50 pesos

| ₱50

| style="text-align:center; background:#b54d4d;"|

| Red

| Sergio Osmeña

| Legislative Building

| 99 px|100 pesos

| 99px|100 pesos

| ₱100

| style="text-align:center; background:#463041;"|

| Violet

| Manuel Roxas

| Former Bangko Sentral ng Pilipinas Building

| colspan="10" |

Ang Bagong Lipunan Series (1973–1996)

The Ang Bagong Lipunan Series (literally, ”The New Society Series") is the name used to refer to Philippine banknotes issued by the Central Bank of the Philippines from 1973 to 1985. It was succeeded by the New Design Series of banknotes. The lowest denomination of the series is 2-piso and the highest is 100-piso.

After the declaration of Proclamation № 1081 by President Ferdinand Marcos Sr. on September 23, 1972, the Central Bank was to demonetize the English Series banknotes in 1974, pursuant to Presidential Decree No. 168, later amended by Presidential Decree 378. All the unissued Pilipino Series banknotes (except the one peso banknote) were sent back to the De La Rue plant in London for overprinting the watermark area with the words "ANG BAGONG LIPUNAN" and oval geometric safety design. The one peso bill was replaced with the two peso bill, which features the same elements of the demonetized Pilipino series one peso bill.

On September 7, 1978, the Security Printing Plant in Quezon City was inaugurated to produce the banknotes.

The banknotes were still legal tender even after the introduction of the New Design Series banknotes, however they were seldom used after the People Power Revolution. The banknotes were eventually demonetized on February 2, 1993 (but could still be exchanged with legal tender currency to the Central Bank until February 1, 1996) after clamors that the banknotes could be used to buy votes for the 1992 Presidential Elections.

{|class="wikitable" style="font-size: 90%"

! colspan="10" | Ang Bagong Lipunan (New Society) Series

!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions

! colspan="2" rowspan="2" |Main Color!! colspan="2" | Description !!colspan="2"| Year

! Obverse !! Reverse !! Obverse !! Reverse !! First issue !! Withdrawal

| 99 px|2 pesos

| ₱2

| rowspan="6"|

| style="text-align:center; background:#003087;"|

| Blue

| José Rizal

| Declaration of Philippine Independence

| style="text-align:center;" rowspan=6| March 17, 1973

| style="text-align:center;" rowspan=6| February 2, 1996

| 99 px|5 pesos

| 99px

| ₱5

| style="text-align:center; background:#4A5C3D;"|

| Green

| Andres Bonifacio

| Blood Compact of the Katipuneros

| 99 px|10 pesos

| 99px|10 pesos

| ₱10

| style="text-align:center; background:#502a1e;"|

| Brown

| Apolinario Mabini

| Barasoain Church

| 99 px|20 pesos

| 99px|20 pesos

| ₱20

| style="text-align:center; background:#FF6600;"|

| Orange

| Manuel L. Quezon

| Malacañang Palace

| 99 px|50 pesos

| ₱50

| style="text-align:center; background:#b54d4d;"|

| Red

| Sergio Osmeña

| Legislative Building

| 99 px|100 pesos

| ₱100

| style="text-align:center; background:#463041;"|

| Violet

| Manuel Roxas

| BSP Complex

| colspan="10" |

New Design/BSP Series (1983–2019, printed from 1985 to 2013)

By 1983, the committee had decided on the issuance of new banknotes to replace the Ang Bagong Lipunan Series by issuing seven new banknotes consisting in denominations of 5, 10, 20, 50, 100, 500 and 1000-pesos.

On June 12, 1985, the Central Bank issued the New Design Series starting with a 5-peso banknote with the face of Emilio Aguinaldo. A new 10-peso banknote with the face of Apolinario Mabini was then introduced in July 1985, a month after the 5-peso banknote was issued. In January 1986, a new 20-peso banknote was introduced.

Before the final 500-peso banknote with the face of Benigno Aquino Jr., the original proposed version was planned to feature Ferdinand Marcos. However, the 1986 People Power Revolution caused the latter to be unreleased and also delayed the denomination's release to 1987.

After the 1986 People Power Revolution and the promulgation of the new 1987 Constitution, the Central Bank issued new 50, 100, and for the second time using the final that replaced the Marcos version, 500-peso banknotes with the face of Aquino Jr. In 1991, the Central Bank released a new 1000-peso banknote, containing the portraits of José Abad Santos, Josefa Llanes Escoda and Vicente Lim.

After the passage of the New Central Bank Act of 1993 when the Bangko Sentral ng Pilipinas (BSP) was reestablished as the central monetary authority, the series was renamed the BSP Series and featured the new seal of the BSP.

On May 2, 1997, the year of issue or printing was introduced on banknotes starting with the release of the 10-peso note with Andres Bonifacio and the Blood Compact of the Katipuneros. This feature was later adapted on other banknotes of the series which are 20, 50, 100, 500, and 1,000 peso notes starting with those printed in 1998 therefore the said denominations without a year mark were produced from 1986 to 1997. The only banknote of the series that does not use the printing or issue year is the 5-peso note as it stopped being printed in 1995 two years before the printing year was introduced or added on banknotes.

In 1998, the 100,000-peso Centennial banknote, measuring 8.5"x14", was accredited by the Guinness Book of World Records as the world's largest legal tender note. It was issued in very limited quantity during the celebration of the Centennial of Philippine Independence. In the same year, the practice in banknotes since the Commonwealth era of reproducing the signature of the President of the Philippines over the legend "President of the Philippines" was abandoned in favor of explicitly stating the president's name. Also, the names of the Philippine president and BSP governor were capitalized, while their titles were now in lowercase.

In 2001, the BSP upgraded the security features (visible fibers, value panel, security thread and watermark) of the 100, 500, and 1000-peso banknotes with additional security features like a second glossy security thread, iridescent strip, fluorescent printing, optically variable ink, and microprints. In 2002, the Bangko Sentral issued a new 200-peso banknote with the same aforementioned security features and with the face of former President Diosdado Macapagal. His daughter, Gloria Macapagal Arroyo, was at the back of the 200-peso banknote which showed her being sworn into office at the EDSA Shrine. She is the first president whose image has been included in a banknote while in office since emergency currency was issued by various provincial currency boards during World War II.

On July 8, 2009, the BSP announced that it would recall all bank notes made of abaca and cotton and replace it with an all-polymer series. This plan was delayed for 12 years until 2021, however, when the New Generation Currency series began printing in November 2010, with all banknotes still made of abaca and cotton.

The series had the liability of the BSP alongside the New Generation Currency series until the demonetization of the 2,000 and 100,000-piso commemorative banknotes on August 2, 2019, when the New Generation Currency series became a single circulating set, making the New Design Series the banknote series to have the longest liability (34 years) of the BSP, with main banknotes demonetized on January 3, 2018, and the said commemorative banknotes and series overall in August 2019.

Signature pairs of the President of the Philippines and Governor of the Bangko Sentral ng Pilipinas appearing on the banknotes:

1983–1984: Ferdinand Marcos Sr., Jaime C. Laya (concept during production)
1984–1986: Ferdinand Marcos Sr., Jose B. Fernandez Jr. (concept (1984–1985); release: 5 and 10 (1985–1986), and 20 (1986))
1986–1990: Corazon Aquino, Jose B. Fernandez Jr. (5, 10 and 20 (1986–1990), and 50, 100 and 500 (1987–1990))
1990–1992: Corazon Aquino, Jose L. Cuisia Jr. (5, 10, 20, 50, 100 and 500 (1990–1992), and 1,000 (1991–1992))
1992–1993: Fidel V. Ramos, Jose L. Cuisia Jr.
1993–1998: Fidel V. Ramos, Gabriel Singson (5 (1993–1995), 10, 20, 50, 100, 500 and 1,000 (1993–1998), and 100,000 (1998))
1998–1999: Joseph Estrada, Gabriel Singson (2,000 (1998), and 10, 20, 50, 100, 500 and 1,000 (1998–1999))
1999–2001: Joseph Estrada, Rafael Buenaventura (1,000 (1999–2000), 10, 20, 50, 100 and 500 (1999–2001), and 2,000 (2001; unreleased))
2001–2005: Gloria Macapagal Arroyo, Rafael Buenaventura (10 (2001), 50, 100, and 1,000 (2001–2004), 200 (2002–2004), and 20 and 500 (2001–2005))
2005–2010: Gloria Macapagal Arroyo, Amando Tetangco Jr.
2010–2013: Benigno Aquino III, Amando Tetangco Jr. (20 and 1,000 (2010–2012), and 50, 100, 200, and 500 (2010–2013))

{| class="wikitable" style="margin:auto; font-size:90%;"

! colspan="10" |New Design/BSP Series

! Obverse !! Reverse !! Obverse !! Reverse !! First Issue !! Withdrawal

|- style="height:62px"

| style="text-align:center;"| border|120px

! ₱5

| rowspan="15" style="text-align:center;" |

| style="text-align:center; background:#4A5C3D;"|

| Green

| Emilio Aguinaldo, First Philippine Republic historical marker in Malolos Cathedral, cannon

| Declaration of Philippine Independence, June 12, 1898

| June 12, 1985

| style="text-align:center;" rowspan=15| January 3, 2018

The members of the numismatic committee included Bangko Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo, chairman of the National Historical Institute. Designed by Studio 5 Designs and Design Systemat, the new banknotes' designs feature famous Filipinos and iconic natural landmarks. Former President Corazon Aquino was added to the 500-peso bill together with her husband Senator Benigno Aquino Jr. The word "Pilipino" is rendered on the reverse and on the front in Baybayin () as a see-through register, which is a security feature where if you hold up the note against the light, an image will form, in this case, it's a word that will form. The font used for lettering in the banknotes is Myriad, while the numerals are set in the Twentieth Century font.

The New Generation Currency series is the only circulating set of notes since August 2, 2019.

Enlarged the font size of the year of issue (all banknotes)
Italicized the scientific names on the reverse (all banknotes)
Replaced the images of the Aguinaldo Shrine and the Barasoain Church on the obverse side of the ₱200 banknote with scenes of the Philippine Declaration of Independence and the opening of the Malolos Congress respectively.
The text "October 1944" was added after the word "Leyte Landing" at the obverse of the ₱50 banknote
The Order of Lakandula Medal and the phrase “Medal of Honor” were removed on the obverse side of the ₱1000 banknote

In 2020, the Enhanced NGC series all banknotes except for the ₱20 were updated with the following changes:

The addition of intaglio tactile markings for the visually impaired in the form of horizontal bands (all banknotes)
The addition of an improved windowed security thread for the ₱100, ₱200, ₱500, and ₱1000 banknotes featuring indigenous weaving patterns.
For the ₱1000 note the thread size was increased to , with the rest remaining the same.
For the ₱500 and ₱1000 notes, the denomination value was embossed with optically variable ink wherein the color changes if the banknote is tilted.
A stylized Philippine flag has also been added with optically variable ink on the ₱500 note replacing optically variable device patch.
The concealed values are more reflective (all banknotes).
For the ₱500 and ₱1000 notes, the denomination at the left has color-shifting ink.

On December 7, 2022, the 2020 BSP logo is now used on 20, 50, 100, 500, and 1,000-peso (non-polymer version) bills which replaced the 2010 logo that has been in use since March 2010 upon the announcement of the series' imminent start of print run and resulting release to the public from November to December 2010 where its early design closer to final was previewed and also released the banknotes bearing the signatures of President Ferdinand Marcos Jr. and BSP Governor Felipe Medalla.

Signature pairs of the President of the Philippines and Governor of the Bangko Sentral ng Pilipinas appearing on the banknotes:

2010: Gloria Macapagal Arroyo, Amando Tetangco Jr. (concept during production)
2010–2016: Benigno Aquino III, Amando Tetangco Jr.
2016–2017: Rodrigo Duterte, Amando Tetangco Jr.
2017–2019: Rodrigo Duterte, Nestor Espenilla Jr.
2019–2022: Rodrigo Duterte, Benjamin Diokno
2022–2023: Ferdinand Marcos Jr., Felipe Medalla
2024–present: Ferdinand Marcos Jr., Eli Remolona

{| class="wikitable" style="margin:auto; font-size:90%;"

! colspan="10" |New Generation Currency series (2010 original)

! Obverse !! Reverse !! Obverse !! Reverse

|- style="height:62px"

| style="text-align=center;"| border|120px

! ₱20

| rowspan="9" style="text-align=center;" |

| style="text-align=center; background:orange;"|

| Orange

| Manuel L. Quezon, Declaration of Filipino as the national language, Malacañang Palace

| Banaue Rice Terraces; Paradoxurus hermaphroditus (Asian palm civet); Cordilleras weave design

| rowspan="3" | November 2010

| rowspan="2" | Wide

|- style="height:62px"

| style="text-align=center;"| border|120px

! ₱50

| style="text-align=center; background:#b54d4d;"|

| Red

| Sergio Osmeña, First Philippine Assembly, Leyte Landing

| Taal Lake in Batangas; Caranx ignobilis, (maliputo, giant trevally); Batangas embroidery design

|- style="height:62px"

| style="text-align=center;"| border|120px

! rowspan="2" | ₱100

| style="text-align=center; background: DarkSlateBlue;"|

| Violet

| Manuel A. Roxas, Old Bangko Sentral ng Pilipinas (BSP) building in Intramuros, Manila, Inauguration of the Third Philippine Republic

| rowspan="2" | Mayon Volcano in Albay; Rhincodon typus (whale shark, butanding); Bicol textile design

| Limited

|- style="height:62px"

| style="text-align=center;"| border|120px

| style="text-align=center; background:#463041;"|

| Violet (mauve)

| Manuel A. Roxas, Old Bangko Sentral ng Pilipinas (BSP) building in Intramuros, Manila, Inauguration of the Third Philippine Republic, stronger mauve color than previous banknote

| April 11, 2015

| Wide

|- style="height:62px"

| style="text-align=center;"| border|120px

! rowspan="2" | ₱200

| rowspan="2" style="text-align=center; background:#4A5C3D;" |

| rowspan="2" | Green

| Diosdado P. Macapagal, EDSA People Power 2001, Aguinaldo Shrine in Kawit, Cavite, Barasoain Church in Malolos, Bulacan

| rowspan="2" | Chocolate Hills in Bohol; Tarsius syrichta (Philippine tarsier); Visayas weave design

| November 2010

| Limited

|- style="height:62px"

| style="text-align=center;"| border|120px

| Diosdado P. Macapagal, EDSA People Power 2001, Declaration of Philippine Independence in Kawit, Cavite, Opening of the Malolos Congress in Barasoain Church, Malolos, Bulacan

| December 5, 2017

| Wide

|- style="height:62px"

| style="text-align=center;"| border|120px

! ₱500

| style="text-align=center; background:#eedba3;"|

| Yellow

| Corazon C. Aquino, Benigno S. Aquino Jr., EDSA People Power I, Benigno Aquino monument in Makati

| Subterranean Underground River in Puerto Princesa, Palawan; Tanygnathus lucionensis (blue-naped parrot); Southern Philippines cloth design

| rowspan="2" | November 2010

|Wide

|- style="height:62px"

| style="text-align=center;"| border|120px

! rowspan="2" | ₱1000

| rowspan="2" style="text-align=center; background:#6F9CB8;" |

| rowspan="2" | Blue

| José Abad Santos, Vicente Lim, Josefa Llanes Escoda; Centennial celebration of Philippine independence; Philippine Medal of Honor

| rowspan="2" | Tubbataha Reefs Natural Park in Sulu Sea; Pinctada maxima (South Sea pearl); Mindanao design for T'nalak (Ikat-dyed abaca)

| Limited

|- style="height:62px"

| style="text-align=center;"| border|120px

| José Abad Santos, Vicente Lim, Josefa Llanes Escoda; Centennial celebration of Philippine independence

| December 5, 2017

| Wide

|colspan="10"|

Errors

Several errors have been discovered on banknotes of the New Generation series and have become the subject of ridicule on social networking sites. Among these are the exclusion of Batanes from the Philippine map on the reverse of all denominations, the mislocation of the Puerto Princesa Subterranean Underground River on the reverse of the 500-peso bill and the Tubbataha Reef on the 1000-peso bill, and the incorrect coloring on the beak and feathers of the blue-naped parrot on the 500-peso bill. The scientific names of the animals featured on the reverse sides of all banknotes were incorrectly rendered as well.

According to Design Systemat, the designers of the new bills, that drafts prepared by the company of the new 500-peso bill shows a red beak of the blue-naped parrot. This color was changed by the printers to account for practical printing concerns. The designers further explain that printing banknotes is not like printing brochures. Due to the intaglio printing and limited printing capability of banknote printers, it can only produce a limited full color reproduction.

The alleged mislocation of the Tubbataha Reef on the one thousand peso note was due to a security feature, a smaller version of the featured species on the bills' reverse (which is also featured on all banknote denominations) was located on top of the exact location of the Tubbataha Reef on the map. Giving the option of either moving the key security feature on the standard position or locating the Tubbataha marker correctly, the bills' French printers, Oberthur Technologies, decided to move the reef marker slightly south on the Philippine map.

First Philippine Polymer Banknote Series (2021–present, printed since 2022 (current))

After a 12-year delay due to the start of print run for subsequent release to public of New Generation Currency from November to December 16, 2010, BSP readied the proposal of the release of polymer banknotes during the time of COVID-19 pandemic under the term of then-Governor Benjamin Diokno in 2021, which they said that the bacteria and viruses will live shorter on the polymer banknote than the traditional paper one.

On April 6, 2022, the BSP in partnership with the Reserve Bank of Australia, released a limited trial polymer version of the 1000-piso banknote, with the same design elements from the New Generation Currency series but now features an image of the Philippine Eagle with a clear window of Sampaguita, the national flower of the Philippines, set to be released to the public on April 18, 2022. The banknote is also the first to be printed which features the 2020 logo of the Bangko Sentral ng Pilipinas, which has received much criticism from the general public. In an interview, Bangko Sentral ng Pilipinas Governor Benjamin Diokno stated that the new series will focus on fauna and flora in the Philippines.

On December 19, 2024, the designs for the 50, 100 and 500 piso polymer banknotes were revealed during a presentation to President Ferdinand Marcos Jr., who led the unveiling ceremony in Malacañang, and have been in circulation since December 23, 2024, in limited quantities and in the Greater Manila area.

{| class="wikitable" style="margin:auto; font-size:90%;"

! colspan="10" |First Philippine Polymer banknote series

! rowspan="2" |Usage in circulation

! Obverse !! Reverse !! Obverse !! Reverse

| style="text-align:center;" |112px

! ₱50

| rowspan="4" |

| style="text-align:center; background:#b54d4d;" |

| Red

| Visayan leopard cat (Prionailurus bengalensis rabori), Vidal's Lanutan (Hibiscus campylosiphon)

| Taal Lake in Batangas; Caranx ignobilis (maliputo, giant trevally); Batangas embroidery design

| rowspan="3" | December 19, 2024

| rowspan="3" | Limited

| style="text-align:center;" |112px

! ₱100

| style="text-align:center; background:#463041;" |

| Violet (mauve)

| Palawan peacock-pheasant (Polyplectron napoleonis), Ceratocentron fesselii orchid

| Mayon Volcano in Albay; Rhincodon typus (whale shark, butanding); Bicol textile design

| style="text-align:center;" |112px

! ₱500

| style="text-align:center; background:#eedba3;" |

| Yellow

| Visayan spotted deer (Rusa alfredi), Acanthephippium mantinianum orchid

| Subterranean Underground River in Puerto Princesa, Palawan; Tanygnathus lucionensis (blue-naped parrot); Southern Philippines cloth design

| style="text-align:center;" |112px

! ₱1000

| style="text-align:center; background:#618ba3;" |

| Blue

| Philippine eagle (Pithecophaga jefferyi), Sampaguita (Jasminum sambac)

| Tubbataha Reefs Natural Park in Sulu Sea; Pinctada maxima (South Sea pearl); Mindanao design for T'nalak (Ikat-dyed abaca)

| April 6, 2022

| Wide

| colspan="10" |

Commemorative banknotes

Commemorative banknotes have been issued by the Bangko Sentral ng Pilipinas to memorialize events of historic significance to the Philippines. Most commonly they were issued by adding a commemorative overprint on the watermark area of a circulating denomination. Less common are especially-designed non-circulating commemorative banknotes sold to collectors at a premium over face value.

Commemorative overprint banknotes summary

Ang Bagong Lipunan Series:
50-piso, 1978: Sergio Osmeña Centennial
10-piso, 1981: Inauguration of President Ferdinand Marcos
2-piso, 1981: Pope John Paul II's visit to the Philippines
5-piso, New Design Series:
1986: President Corazon Aquino's visit to the United States
1987: Canonization of Blessed Lorenzo Ruiz
1989: 40th Anniversary of Bangko Sentral ng Pilipinas
1990: Kababaihan Para sa Kaunlaran (Women for Progress)
1990: 2nd Plenary Council of the Philippines
50-piso, New Design Series:
1997, 1999: 50 Years of Central Banking in the Philippines
2012: DFA-ASEAN 45th Anniversary
2013: Canonization of St. Pedro Calungsod
2013: PDIC 50th Anniversary
2013: Trinity University of Asia 50th Anniversary
100-piso, New Design Series:
1997–1998: Philippine Declaration of Independence Centennial
2008: University of the Philippines Centennial
2011: UP College of Law Centennial
2011: Ateneo Law School 75th Anniversary
2012: De La Salle University Centennial
2012: Philippine Masonic Centennial
2012: Manila Hotel Centennial
2013: Bangko Sentral ng Pilipinas 20th Anniversary
2013: Department of Agriculture/ National Year of Rice
2013: Iglesia ni Cristo Centennial
2013: Pilipinas Shell Petroleum Corporation Centennial
Other, New Design Series:
20-piso, 2004-2005: International Year of Microcredit
All denominations in production (20-piso to 1000-piso), 2009: 60th Anniversary of Central Banking in the Philippines
200-piso, 2011: University of Santo Tomas 400th Anniversary
500-piso, 2012: Asian Development Bank Manila 2012 Board of Governors Annual Meeting
20-piso, New Generation Currency:
2023: 30th Anniversary of Bangko Sentral ng Pilipinas

Higher value commemorative banknotes

2,000 piso

thumb|The 2000 piso bill showing the [[Inauguration of Joseph Estrada|inauguration of Joseph Estrada (top) and the Philippine Centennial led by Fidel V. Ramos (bottom). Note that the ₱2,000 currency is only commemorative and is currently not in circulation]]

The Central Bank of the Philippines (Bangko Sentral ng Pilipinas) issued only 300,000 pieces of this 2,000 Philippine peso centennial commemorative legal tender banknote. Another version, with the same design but measured at , was also planned to be issued as legal tender in 2001, but due to the ouster of President Joseph Estrada as the result of the Second EDSA revolution (EDSA People Power II), the notes were stored in the vaults of the Bangko Sentral ng Pilipinas. As of 2010, the bank was considering destroying the bulk of the unissued notes (known as the "New Millennium" or "Erap" notes), saving only 50,000 of the five million pieces to be demonetized for "historical, educational, numismatic, or other purposes". However, in 2012 the bank began selling the note in a folder that clearly stipulates that the notes are not legal tender.

The obverse side features President Joseph Estrada taking his oath of office on June 30, 1998, in the historic Barasoain Church, the seat of the first democratic republic in Asia shown in the background as well as the scroll containing the excerpt texts from the Preamble of the Malolos Constitution and the place (Barasoain) and the date (January 20, 1899 in words) of ratification written in Spanish, and the seal of the BSP (Bangko Sentral ng Pilipinas). The reverse side depicts the re-enactment of the declaration of Philippine Independence at the Aguinaldo Shrine in Kawit, Cavite on June 12, 1998, by President Fidel V. Ramos and also features the Philippine Centennial Commission logo, but in the smaller version, it was replaced by the phrase of "Tiwala Kay Bathala, Pagmamahal sa Bayan". The security features of the note include a 3-dimensional cylinder mold-made portrait watermark of the two presidents and the years 1898–1998 (in smaller version, the watermark 1898–1998 was removed), iridescent band, color-shift windowed security thread, concealed image and perfect see-through register.

100,000 piso

thumb|Commemorative ₱100,000 bank note displaying the [[Katipunan during the Philippine Revolution (top), depiction of the Philippine Declaration of Independence on June 12, 1898 (bottom)]]

The 100,000-peso centennial note, measuring , was accredited by the Guinness Book of World Records as the world's largest legal tender note in terms of size. 1,000 pieces were issued during the celebration of the centennial of Philippine independence in 1998. It has since been surpassed by the somewhat larger 600 Malaysian ringgit banknote on December 14, 2017.

5,000 piso

thumb|Commemorative ₱5,000 bank note displaying the national hero [[Lapulapu, considered as the first Filipino to resist Spanish rule]]

On January 18, 2021, Bangko Sentral ng Pilipinas, in cooperation with the Quincentennial Commemorations in the Philippines launches the 5,000-Piso Commemorative Non-Circulating Banknote, in honor of heroism of Lapulapu. On its obverse, the banknote depicts a young Lapulapu, an image of the Battle of Mactan, the QCP logo, and the Karakoa, the large outrigger warships used by native Filipinos, while on its reverse shows the Philippine eagle, or the Manaol, which symbolizes clear vision, freedom, and strength; and which embodies the ancient Visayan belief that all living creatures originated from an eagle, also featured are the tree of a coconut, which was food the people of Samar provided to Ferdinand Magellan and his crew; and Mount Apo, which is located in Mindanao, where the circumnavigators finally found directional clues to their intended destination of Maluku or the Spice Island.

{|class="wikitable" style="font-size: 90%"

! colspan="10" | Higher denominations

!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions

! colspan="2" rowspan="2" |Main Color!! colspan="2" | Description !!colspan="2"|Date

! Obverse !! Reverse !! Obverse !! Reverse !! First issue !! Withdrawal

| style="text-align:center; bgcolor=" #FFFFFF" |

| rowspan="2" |₱2,000

| style="text-align:center; background:#66CCFF;"|

| rowspan="2" |Blue and violet

| rowspan="2" |President Joseph Estrada taking his oath of office on June 30, 1998, in the historic Barasoain Church, the seat of the first democratic republic in Asia shown in the background as well as the scroll containing the excerpt texts from the Preamble of the Malolos Constitution and the place (Barasoain) and the date (January 20, 1899 in words) of ratification written in Spanish, and the seal of the BSP (Bangko Sentral ng Pilipinas)

|Re-enactment of the declaration of Philippine Independence led by President Fidel Ramos at the Aguinaldo Shrine in Kawit, Cavite on June 12, 1998, Philippine Centennial Commission logo

|1998

|August 1, 2019

| style="text-align:center; bgcolor=" #FFFFFF" |

| style="text-align:center; background:#CC0099;"|

|Re-enactment of the declaration of Philippine Independence led by President Fidel Ramos at the Aguinaldo Shrine in Kawit, Cavite on June 12, 1998, the phrase of "Tiwala Kay Bathala, Pagmamahal sa Bayan"

|2001 (as supposed legal tender)

|Never circulated

| ₱5,000

| style="text-align:center; background:#502a1e;"|

| Brown

| Lapulapu, Battle of Mactan, Karakoa, seal of the BSP (Bangko Sentral ng Pilipinas), 2021 Quincentennial Commemoration logo

| Philippine eagle (Manaol), Coconut tree (Lubi), Mount Apo

|2021

| style="text-align:center; bgcolor=" #FFFFFF" |

| ₱100,000

| style="text-align:center; background:#FFCC66;"|

| Yellow-orange

| Cry of Pugad Lawin, Philippine Centennial Commission logo, Former Bangko Sentral ng Pilipinas logo

| Philippine Declaration of Independence, Philippine Centennial Commission logo

| 1998

| August 1, 2019

References

External links

Philippine Banknotes and Coins
Philippine Coins News & Updates
Philippine currency during WWII