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

The BSP continuously looks for ways to improve our banknotes in response to the evolving needs of Filipinos and the availability of modern technologies. This calls for the use of polymer substrate, which is known to be more hygienic and sanitary, durable and cost-effective, secure and difficult to counterfeit, and sustainable.

In April 2022, the BSP began the circulation of the new and improved 1000-Piso polymer banknote. This will be used alongside the 1000-Piso paper banknotes.

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History of Philippine Money

Philippine coins and notes are the treasure of our nation. They are woven into the fabric of our social, political and economic life. From its early bead-like form to the paper notes and coins that we know today, our money has been a constant reminder of our journey through centuries as a people relating with one another and with other peoples of the world.

  • Pre-Hispanic Era
  • Spanish Era
  • Revolutionary Period
  • American Period
  • Japanese Occupation
  • Philippine Republic

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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.