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BSP says initial 10 million pieces of P1,000 polymer banknote released to banks

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ABS-CBN News

<p>MANILA - The Bangko Sentral ng Pilipinas on Tuesday said it released the first 10 million pieces of the new P1,000 polymer banknotes to banks last week.</p><p>The release is part of the phased issuance for the circulation of the newly designed currency, the central bank said in a statement.<br/> <br/>The initial quantity is 2 percent of the total polymer banknotes to be circulated, the BSP said.</p><p>A total of 500 million pieces of the new bill is expected to be circulated alongside the previous paper version of the P1,000 banknote by 2023, the BSP said.<br/> <br/>The bill officially started circulation last April 18.</p><p>&quot;Prior to release, the BSP conducted technical briefings for bank personnel, machine suppliers, and cash-in-transit service providers to educate them on the design and security features of the polymer banknotes,&quot; the central bank said.</p><p>BSP Governor Benjamin Diokno earlier said the new polymer banknotes would be released through banks&#x27; over-the-counter transactions as ATMs in the country needed to be recalibrated to process the new currency.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/07/22/p1000-plastic-bills-to-start-circulation-on-april-18">New P1,000 polymer bills to start circulation on April 18: BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/04/06/22/bsp-launches-p1000-plastic-bill-with-philippine-eagle">LOOK: BSP launches new P1,000 &#x27;plastic&#x27; banknote featuring Philippine eagle</a></li>	<li><a href="https://news.abs-cbn.com/business/04/22/22/bsp-says-new-p1000-polymer-banknote-not-for-sale">BSP says new P1,000 plastic bill &#x27;not for sale&#x27;, only worth its face value</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1860148" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Bangko Sentral ng Pilipinas on Tuesday said it released 10 million pieces of the new P1,000 polymer banknotes to banks last week.