Central Bank of the Philippines yesterday announced that 702million new peso banknote has been in circulation. The announcement made by Currency Analysis and Redemption Division, Cash Department Manager Maja Gratia Malic, during the recent public information campaign on the NGC here at the CB office. The new generation currency (NGC) banknotes released on 17 december 2010 with many new security features. She said the upgraded security features like new design, threads, texture, groves, silhouettes and others were especially created to prevent the spread of counterfeits.
Maja Gratia Malic said he cannot give the amount per area but was sure it was spread evenly in Luzon, Visayas and Mindanao for initial use as a legal tender. The six banknote denominations include 20 peso, 50 peso, 100 peso, 200 peso, 500 peso and 1000 peso bills. Coin denomination redesigning is now also on the process. The old currency can still be legally used for three years to give enough time for the public to make a full transition to the new NGC, she said.
Currency Management Sub-sector Managing Director Iluminada Sicat said attempts were already made to make counterfeits but fell short of copying the original and were thwarted.
Source: Philippine Information Agency.
How many Malaysia banknotes in circulation? Anybody know?
