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Proposal for a P20 coin needs 'in-depth' deliberation, study: BSP

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ABS-CBN News

MANILA - The Bangko Sentral ng Pilipinas on Friday said replacing the P20 bill with a coin entails &quot;extensive and in-depth&quot; deliberation amid reports that a coin version of one of the most common denominations could be released before the year ends.In a statement, the BSP said a total systems study on the currency cycle conducted by the University of the Philippines recommended the replacement of the banknote with a coin as it is &quot;the most used denomination for small value transactions causing it to be easily unfit and returned to the BSP for replacement.&quot;&quot;As with previous currency issuance and enhancements, the design, security features and specifications of the proposed P20 coin will be a result of an extensive and in-depth deliberation by the BSP&#x27;s Committee on Currency Design and Enhancements,&quot; the statement said.The committee&#x27;s proposal will be submitted to the monetary board and then recommended for the President&#x27;s final approval, the BSP said.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/03/19/look-bangko-sentral-releases-bills-with-diokno-signature">LOOK: Bangko Sentral releases bills with Diokno signature</a></li></ul>The BSP recently released the first set of banknotes bearing the name and signature of BSP Governor Benjamin Diokno, who assumed office last March 6.<div>-- with a report from Bruce Rodriguez, ABS-CBN News</div>

The Bangko Sentral ng Pilipinas on Friday said replacing the P20 bill with a coin entails "extensive and in-depth" deliberation amid reports that a coin version of one of the most common denominations could be released before the year ends.

The Bangko Sentral ng Pilipinas on Friday said replacing the P20 bill with a coin entails "extensive and in-depth" deliberation amid reports that a coin version of one of the most common denominations could be released before the year ends.