MALACANAN PALACE, Manila — The Bangko Sentral ng Pilipinas (BSP) presented to President Ferdinand 'Bongbong' Marcos Jr. the new designs for the ₱500, ₱100 and ₱50 polymer banknotes with replaced the images of the country’s national heroes to graphic illustration of our rich biodiversity.

According to BSP governor Eli Remolona Jr., the new banknotes are "smarter, cleaner, and stronger" as they have an advanced anti-counterfeiting feature, a smaller carbon footprint and are resistant to bacteria.

Remolona added that the polymer banknotes have a longer lifespan than their paper counterparts.

For the ₱500 bill, the new design has replaced the bust images of the late President Corazon 'Cory' Aquino and her deceased husband, Senator Benigno 'Ninoy' Aquino Jr., with the Visayan spotted deer on the front side of the note. It retained, however, the Puerto Princesa Subterranean River National Park and the blue-naped parrot at the back.

In the ₱100 bill, the currency note spotlights the Palawan Peacock-Pheasant instead of former President Manuel Roxas at the front even as Mayon Volcano and the whale shark are still featured on the reverse side.
Finally, the newly designed ₱50 banknote had the image of former President Sergio Osmeña replaced by the endangered Visayan leopard cat with Taal Lake and the giant trevally still featured at the back.

In presenting the new banknotes, Remolona enthused that since "(the country’s)
economy is becoming an increasingly cashless economy as technology provides new ways to make many transactions easier, there will long be a need for cash especially for people and businesses with the least access to technology."

The BSP governor also clarified that paper banknotes can still be used alongside the polymer ones as the series also features weave designs from various regions of the country, promoting their vibrant cultural traditions and heritage.

He likewise added that the new banknotes are also beneficial to the visually challenged as they have tactile dots, vivid distinct colors, and high-contrast numerals.

"The first Philippine polymer banknote series is a symbol of progress and national identity, a celebration of the rich natural heritage of the Filipino people," he described to conclude.