The design of the new P200 banknotes has triggered a lot of comments and speculations. To set the record straight, we are providing you the rationale for such design and other important features of the new banknote.
The Bangko Sentral wanted a new denomination to commemorate the June 12 Independence Day of our country, following the introduction of the P5 coin and the subsequent phaseout of the P5 banknote. ( Please note however, that while BSP has stopped the printing of the P5 banknote, the P5 bills still in circulation remain legal tender)
It will be recalled that the green P5 banknote featured on one side the Aguinaldo house in Kawit, Cavite where the Philippine flag was first raised. The other side featured Emilio Aguinaldo as the first President of the Philippine Republic. In the P5 coin, the image of Emilio Aguinaldo was retained, but for lack of space the June 12, 1898 event was no longer depicted.
On the other hand, the July 4 declaration of independence of the Philippines from the United States is depicted in our P100 bill with an image showing the lowering of the American flag and the raising of the Philippine flag, together with the portrait of President Manuel Roxas.
BSP saw the opportunity to re-feature the June 12 Independence with the introduction of the P200 bill denomination. Since it was President Diosdado Macapagal who moved the Philippine Independence Day celebration from July 4 to June 12, BSP decided to feature him on this banknote.
The Philippines is recognized and known the world over for People Power. As such, People Power is featured in our P500 bill. Ninoy Aquino on one side of the note and a nun and a child offering flowers to soldiers, among other images, depict the EDSA I event.
With EDSA 2, the Philippines proved EDSA I was not a fluke, that People Power represents the nature of the Filipino. BSP saw fit, therefore, to depict EDSA II in the new banknote to symbolize two values Filipinos hold dear: peaceful transition and the desire for good governance.
The P200 banknote features a photo of thousands of people gathered for EDSA II. President Macapagal-Arroyo was additionally featured taking her oath as she is the symbol of EDSA II, without which the crowd would have looked like any other photo of a rally.
The intention, therefore, was to depict the EDSA II event in the P200 note in a similar vein as that of EDSA I on the P500-piso note.
200-piso note features