MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) is set to release the initial batch of banknotes bearing the signature of President Duterte starting next week.
BSP Governor Amando Tetangco Jr. said the new generation currency (NGC) bills bearing the signature of the country’s new chief executive would be available next week.
“The initial batch of NGC banknotes… is ready for release to the general public. These banknotes shall be issued to authorized agent banks once the approval process is completed,” Tetangco said.
The banknotes will also bear the signature of Tetangco, who is being considered for an unprecedented third term when his term expires in July next year.
Last January, the NGC bills were circulated in the market, replacing the New Denomination Series (NDS) banknotes launched in 1985.
The NDS banknotes can still be exchanged in banks and BSP offices until December this year before being demonetized in January 2017.