Metro Manila (CNN Philippines, December 20) – The Bangko Sentral ng Pilipinas (BSP) will print additional crisp, new bills as Filipinos prefer giving these as gifts to their relatives, friends, and godchildren during Christmas.
The BSP on Tuesday said it will print 300 million more pieces of the ₱1,000 bill – totaling ₱300 billion.
The central bank, however, clarified that there are still enough fresh banknotes and coins in circulation, which is at around ₱2 trillion.
The newly printed bills that will be made available this Christmas bear the signatures of President Ferdinand Marcos Jr. and Bangko Sentral Governor Felipe Medalla, according to the BSP.
First released in April, the new ₱1,000 bill is made of polymer and does not tear easily.
The BSP said replacing old banknotes with fresh, crisp bills is free of charge.
