Noynoy Aquino Signature on P500 Bills to be distributed starting November 26, 2010

By on Nov 25, 2010 in Current Events, Economy, National Comments

The Bangko Sentral ng Pilipinas (BSP) will distribute new P500 bills starting tomorrow, November 26, 2010, as reported earlier by ABS-CBN. The new bills will bear the signature of President Benigno “Noynoy” Aquino III. The printing of the said bills started since the inauguration of PNoy, as revealed by BSP Corporate Affairs director Fe dela Cruz.

According to the report, Malacañang reporters were given the chance to see the new peso P500 bills that bear President Noynoy‘s signature upon the presentation of BSP Governor Amando Tetangco Jr. of the new bills to the president today, November 25, 2010.

The new bills has a new design that contains an enhanced security features and improve durability. The new design was formulated in collaboration with the central bank officials led by Bangko Sentral Deputy Gov. Diwa Guinigundo and representatives from the national historical commission who are members of the BSP‘s numismatic committee.

Other set of new 500 peso bills will be made available by December, 2010. All of these new bills will bear the faces of Senator Benigno S. Aquino Jr. and former President Corazon Aquino and will have upgraded security features. The new bills will make it very difficult for counterfeiters, according to the BSP. The BSP explained that the old bills will still remain in circulation for another 3 to 4 years.

Designs and security features of other banknotes like the P20, P50, P100, P200, and P1,000 together with the one-centavo, five-centavo, 10-centavo, 25-centavo, P1, P5 and P10 coins will also be changed and will be in circulation soon.

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