New Design Series (NDS) (1985-2017)

When Martial Law was lifted in 1981, the Central Bank started to print and mint an entirely new series of Philippine currency notes and coins which are contemporary and forward looking, adopting the latest trend of anti-counterfeiting features. On June 12, 1985, the BSP issued the New Design Series starting with the 5-piso banknote with the face of Emilio Aguinaldo on the obverse side. The following month, the 10-piso banknote with the face of Apolinario Mabini on the obverse side was issued. In early 1986, a new 20-piso banknote appeared. After the 1986 People Power Revolution and the new 1987 Constitution was promulgated, the 500-piso banknote with the face of Benigno Aquino, Jr. on the obverse side was introduced. In 1991, the BSP issued for the first time a 1000-piso banknote, containing on the obverse side the composite portraits of Jose Abad Santos, Josefa Llanes Escoda and Vicente Lim.

The second major political upheaval called EDSA II in 2001 was depicted on the reverse side of the 200-piso showing Gloria Macapagal-Arroyo being sworn into office at the EDSA Shrine. She is the first president whose image has been included in a banknote while in office. On the obverse side of the banknote is the portrait of his father, Diosdado Macapagal. The 200-piso NDS which was issued in 2002, was the last denomination to be added in the series.

In the NDS, the country’s social and political development and economic achievements were highlighted. The design was made more distinctly Pilipino through the adoption of ethnic designs at the background of all the denominations instead of the embellishing lacework patterns from western culture that were depicted in the earlier series. The seal of the Central Bank of the Philippines in the obverse and the size of the Pilipino series had been retained.

After the passage of the New Central Bank Act of 1993, the New Design Series bears the new seal of the Bangko Sentral ng Pilipinas.

In the latter part of 1997, the revised 10-piso banknote, with portraits of Apolinario Mabini and Andres Bonifacio on the obverse side, was issued.

In 1998, the 100,000-piso Centennial banknote, measuring 8.5"x14", accredited by the Guinness Book of World Records as the world's largest legal tender note was issued in a limited quantity of 1000 pieces to commemorate the celebration of the Centennial of Philippine Independence. Along with this was the launching of the 2000-piso Centennial Note, measuring 216 mm x 133 mm and bearing the signature of President Joseph E. Estrada, on December 1, 1998. Also, in 1998, the year of printing was added at the bottom of the denomination value located at the upper left corner of the obverse.

In 1999, the names of the signatories on the bills were added starting with banknotes featuring the signature of President Joseph Estrada. During the Estrada Administration, the practice in use since the Commonwealth, of reproducing the signature of the President of the Philippines over the legend "President of the Philippines" was abandoned in favor of explicitly stating the president's name.

Meanwhile, in the latter part of 1990’s, colored reproduction machines became available in commercial quantity and has become a big threat to the integrity of the currency. As a result, in 2001, BSP decided to enhance the security features of the of 1000, 500, and 100-piso banknotes, including the 200-piso which was issued in 2002, by incorporating the iridescent band and the windowed security thread to combat counterfeiting made out of colored copiers.

Pursuant to BSP Circular No. 954, Series of 2017, the NDS banknotes were demonetized after 30 June 2017.

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