2019-10-17 Thu

20-Piso banknote, the most-used denomination of Philippines will soon be replaced by its coin version.

The Bangko Sentral ng Pilipinas (BSP) will release in circulation a 20-Piso coin in 2020 following its scheduled ceremonial launch in December this year.

The bank stated that the 20-Piso banknote is easily rendered unfit for circulation. As such, the issuance of a coin in lieu of a banknote is more cost-efficient in terms of currency production in the long run.

Official photographs and specifications of the 20-Piso New Generation Currency (NGC) coin shall be presented by BSP Governor Benjamin E. Diokno during its launch. To date, the BSP has not released any official image regarding the proposed 20-Piso coin.

Nevertheless, the latest addition to the NGC Coin Series shall retain major elements of the 20-Piso banknote. The design and features of the new 20-Piso coin shall make it easily distinguishable from the rest of the denominations in the NGC Coin Series.

Once circulated, the new 20-Piso coin shall co-exist with the 20-Piso NGC banknotes as legal tender. The 20-Piso banknote shall be gradually removed from circulation through natural attrition.

Image Courtesy: Banknote News