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Bangko Sentral Issues Currency Notes with Overprints of 60 Years of Central Banking

07.09.2009

The Bangko Sentral ng Pilipinas (BSP) is issuing  starting today 12 million banknotes with an overprint commemorating 60 years of central banking. The overprint is on all six circulation bank notes:  20-piso, 50-piso; 100-piso; 200-piso; 500-piso; and 1,000-piso.

Central banking is a function directly linked with the development of our economy and our nation. It is appropriate therefore that we commemorate this milestone. Central banking started in 1949 when the Central Bank of the Philippines (CBP) started operations following the passage of Republic Act 265.  The CBP ended when Republic Act 7653 or The New Central Bank Act gave birth to the Bangko Sentral ng Pilipinas in 1993.

The 20-piso note has on the obverse the portrait of Manuel L. Quezon, first President of the Philippine Senate and the Commonwealth of the Philippines, the seal of the Commonwealth, and scrolls with the inscriptions “Wikang Pambansa” and “Saligang Batas”. President Quezon pushed for the inclusion of a provision for a national language in 1935. The reverse shows Malacañan Palace, the official residence of Philippine presidents. Quezon was the first Philippine president to occupy the Palace.

The 50-piso note shows the portrait of President Sergio Osmeña, the first speaker of the Philippine Assembly. A gavel signifying his speakership and the Fuente Osmeña monument erected in his honor in his native Cebu City appear on the right side. The reverse features the National Museum. The 50-piso has a micro-printing of “Gusali ng Pambansang Museo” on the frieze of the building at the back of the note.

The 100-piso note bears on the obverse the portrait of Manuel A. Roxas, who took his oath of office on July 4, 1946 during rites celebrating the independence of the Philippines from American rule. The ceremony was highlighted by the raising of the Philippine flag as the American flag was being brought down. The figure of the Winged Victory appears on the vignette. On the reverse is an image of the Bangko Sentral ng Pilipinas head office complex in Manila. Also featured is the Intendencia in Intramuros, the first office of the central bank. President Roxas envisioned and initiated the establishment of a central bank for the country. The 100-piso has a micro-printing of “Bangko Sentral ng Pilipinas” on the 5-storey Building at the back of the note.

The 200-piso note features President Diosdado P. Macapagal, who moved the country’s Independence Day celebration from July 4 to June 12. It also features the Aguinaldo shrine,  where the declaration of the first  Philippine  independence was  held on  June 12, 1898. The reverse depicts the peaceful political transition during the People Power II and the oathtaking of President Gloria Macapagal- Arroyo. The 200 piso has Braille symbols/feature for the blind and microprinting of Bangko Sentral ng Pilipinas on top of the lacework designs at the face of the note.

The 500-piso note bears the portrait of Senator Benigno “Ninoy” S. Aquino Jr. as well as scenes and representative objects from his life as a journalist, correspondent, mayor, provincial governor and senator. The senator inspired the 1986 peaceful People Power Revolution that restored democracy in the country. On the reverse are images of unity, peace and reconciliation during the revolution that left indelible impressions on the rest of the world. The 500 piso has a concealed numerical value and micro-printing of “Central Bank of the Philippines” below the serial number in the lower left face of the note.

The 1000-piso note bears the composite portraits of Jose Abad Santos, Josefa Llanes Escoda and Vicente Lim, heroes martyred during the World War II. Featured on the reverse are images indicating the advanced civilization of the early Filipinos: the Banawe Rice Terraces in Luzon which was carved from the mountain side to provide both farmland and irrigation; the Manunggul jar in the Visayas, featuring boatmen journeying into eternity, which indicates the concept of after-life; and the Langgal (Muslim mosque) in Mindanao, a symbol of the people’s piety and faith. The 1000 piso has an optically variable ink and micro-printing of the “Central Bank of the Philippines” in the lower left border of the face of the note. 

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