BSP releases Duterte-signed bills worth P8.25 billion

The Bangko Sentral ng Pilipinas (BSP) released on Tuesday P8.25 billion worth of new bank notes bearing the signature of President Rodrigo Duterte.

BSP Deputy Governor Diwa Guinigundo told reporters during a media briefing that the central bank has released 100 boxes each of P20, P50, P100, P500 and P1,000 bills.

"One box contains 50,000 bank notes, which means that for every denomination there will be five million bills that will be made available not only here in NCR (National Capital Region) but also in areas outside of NCR, which means from Luzon, Visayas and Mindanao we will start distributing these boxes of Duterte-signed NGC bank notes," Guinigundo said.

In the case of P200 bills, only two million pieces were released because of lower demand for the banknote, the official noted.

"They will be distributed within the day. They will be made available from today. All banks," he said.

"We have already started shipping boxes to areas outside of the NCR. But, of course, this is the initial launch so it is still limited. But in the next few days there will be subsequent shipments of the bank notes – Duterte-signed bank notes – to the regions, to the provinces," he added.

Nothing was change in the design and security features of the banknotes, except for the President's signature.

"The design, the size, the dimension, the security features – they are all the same, except the signatory, who is now the President of the republic, President Rodrigo Roa Duterte," Guinigundo said.

As the incumbent central bank chief, BSP Governor Amando Tetangco Jr. is still the counterpart signatory to the new bank notes. — VS, GMA News