Metro Manila (CNN Philippines, April 22) — The newly-released ₱1000 polymer banknote is not for sale and only worth its face value, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
The new banknote, which features the Philippine eagle, is being released in phases, starting April 2022.
During the initial phase, automated teller machines (ATMs) and other cash processing machines will be calibrated to properly count and dispense the new polymer banknotes, the BSP said.
It will be in circulation along with the old banknote featuring Philippine heroes, Jose Abad Santos, Vicente Lim, and Josefa Llanes Escoda, it added.
The central bank also reminded the public that the ₱5 and ₱20 new generation coins (NGCs) are still in circulation, after reports that they are being sold online at a higher price.
The NGCs were released in December 2019.
