[Update: New Generation Philippine Banknotes released]
By Lawrence Agcaoili, The Philippine Star
MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) is set to print the redesigned banknotes and coins within the year after getting the approval of President Arroyo.
BSP Governor Amando M. Tetangco Jr. told Tuesday Club members at their breakfast meeting on Tuesday that the redesigned banknotes and coins would include the new P500 bill that would include a portrait of the late President Corazon Aquino beside former Sen. Benigno Aquino.
Tetangco said that the BSP is choosing between three favorite photographs of the late Chief Executive that would be included in the design of the new P500 bill.
He explained that the photo to be placed on the proposed P500 billion would be given to the family of the late president for their approval.
The numismatic committee composed of central bank officials led by Bangko Sentral Deputy Gov. Diwa Guinigundo with representatives from the national historical commission, including Ambeth Ocampo and Dr. Jimmy Laya are finalizing the design of the new banknotes and coins.
“We have looked at several designs. This will require presidential approval,” Tetangco added.
He said the new banknotes and coins would feature national wonders.
According to him, the central bank hopes to get the approval of President Arroyo on the design of the new banknotes and coins before her term expires in June.
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