The Bangko Sentral ng Pilipinas has the exclusive power and authority to issue coins and notes for circulation in the Philippines.   The BSP has recently launched enhanced Philippine coins and notes that are more responsive to the needs of the elderly and the visually impaired, and feature the latest anti-counterfeiting technology.   It also issues legal tender commemorative coins and notes of limited quantity to celebrate or recognize the significance of a person, place and event in Philippine history.

1000-Piso Polymer Banknote

History of Philippine Money

The Philippine Cash Cycle

Production of Currency


Philippine coins and banknotes are mostly produced in the BSP Security Plant Complex (SPC). Over the past four decades, the SPC has become a world-class producer of quality coins and notes. It has overseen the design, production and issuance of four generations of legal tender Philippine currency.

Issuance, Distribution and Retirement


The Philippine cash cycle involves issuance of new coins and notes, distribution to the regions of the country, and retirement of unfit currency. The BSP adopts a Clean Note and Coin Policy for the effective removal of unfit currency in circulation as a means to maintain the integrity of Philippine banknotes and coins.
Download Currency Lifecycle (PDF)
Download Currency Fitness Guide (PDF)

Currency in Circulation


The annual volume/value of currency issued is based on currency demand that is estimated from a set of economic indicators which generally measure the country’s economic activity. The total amount of banknotes and coins that the BSP may issue should not exceed the total assets of the BSP.