Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. presented the “New Generation” bank notes to Aquino in an unveiling ceremony of the new Philippine currency at Malacañang.
The country’s new P500 bank note – which also showcases national heroes and icons, historical milestones, and natural wonders – is the first in the world to feature a married couple with their son as the signatory to it.
Beaming, Aquino said: “The last time I checked, no other bank note all over the world has both parents and his son in the same bank note.”
“It does make me happy as a son and as a Filipino to have my parents in the same bank notes – this is a testament to what they have sacrificed for our people and a testament of their love for country,” he said.
“The addition of my mother’s image reminds us all of her… culture of honesty, faithfulness, and accountability,” he added.
The redesigned bills, which retained the same color to avoid confusion, underwent a facelift to upgrade security features against counterfeits.
“I was informed of the problem that the appreciating Peso becomes even more tempting for counterfeiters. On that note, the BSP [Bangko Sentral ng Pilipinas] has utilized new (securityfeatures)… that will be valuable against counterfeiters,” Aquino said.
Describing the new Philippine Peso bills as the country’s “window to the world,” the President said “these bank notes reflect new values of our collective efforts to… build on the successes of the past.”
The 20 peso bill has the image of former President Manuel Quezon and features Malacañang Palace and Filipino as the National Language in 1935. The reverse side highlights the Banaue Rice Terraces, a UNESCO World Heritage site, and animal called “palm civet.” On the right is a weave design from the Cordilleras.
Featured in the P50 bill are former President Sergio S. Osmeña, the Leyte landing, and First National Assembly in 1907. The Taal Lake, the deepest freshwater lake found n the country, as well as the animal Maliputo are showed on the reverse side. On the right is a design highlight from an embroidery handcrafted in Batangas.
The images of former President Manuel Roxas, Central Bank, and the inauguration of the Third Republic last July 4, 1946 are found on the P100 bill. Shown on the reverse side are the majestic Mayon volcano and the whale shark, locally known as butanding. A detail from the design for an indigenous textile crated in Bicol region is also featured on the right side of the bill.
Former President Diosdado P. Macapagal is shown on the P200 bill alongside People Power II in January 2001 particularly the oath-taking of his daughter, former President Gloria Arroyo. Also shown on the front side of the bill are the Barasoain Church and the Independence House. The reverse side features the Bohol Chocolate Hills and the tarsier, one of the world’s smallest primates. On the right is a highlight from a design handcrafted in the Visayas .
An image of the late President Aquino is shown beside her husband, Senator Aquino, on the 500-peso bill. It also features the first EDSA People Power in February 1986 and the Benigno S. Aquino monument. The reverse side features the Puerto Princesa Subterranean River National Park, a UNESCO World Heritage Site, and the blue-naped parrot. Shown on the right is a design highlight from a woven cloth from Southern Philippines.
The 1,000-peso bill has the faces of Jose B. Abad Santos, who once served as Chief Justice; Vicente P. Lim, the first Filipino graduate of West Point; and Josefa Llanes Escoda, one of the founders of the Girl Scouts of the Philippines.
It also features the Centennial of Philippine Independence in 1998 and the Medal of Honor. The reverse features Tubbataha Reefs Natural Park, another UNESCO World Heritage Site, and the south sea pearl. On the right side is a highlight of design for Tinalak or Ikat-dyed abaca, which is woven in Mindanao.
The BSP Numismatic Committee was behind the upgraded security features of the new peso bills, including the embossed prints, serial number, security fibers, watermarks, concealed value, and security thread.
The word “PILIPINO” written in Baybayin or pre-Spanish Philippine writing system, is seen in complete form when the note is viewed against the light.
REACTION
The country's new paper bills do have a positive and negative effect in our economy but it is more of an advantage to our current leader, President Aquino. One of the new paper bill, the 500 peso bill, has a new familiar face in it and that is the late ex-president Corazon Aquino. This 500 peso bill has set a new history record because it is first time that there are three direct family in one bill in the world. There is nothing wrong about that but President Aquino should just make sure that he will still deliver his job of making his election promises to the people come true.Primarily, the positive effect of this kind of shift on having a new paper bill in this country, is to reset all illegal money making machines. It has been attracting special attention to Bangko Sentral that there were already a lot of illegal activities going, on making fake peso bills. Through this modification, obviously, it will stop or maybe lessened these illegal activities.
In this situation, there would also be a negative effect that might happen. As what I have projected, there might be a little chaos while the government will start printing and revolving the new peso bill. There will be sumptuous of questions to be raised that regards on how to change there old peso bills.
