Panayam kay Joseph Alcala, Deputy Director, BSP (December 23, 2024)

2 hours ago

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Transcript

00:00Starting today, the new polymer banknotes will enter the circulation of money in the Greater Manila area.

00:06And before that, and before we take care of the money this holiday season,

00:10let's talk to the Deputy Director of the Banknotes and Securities Production Management Department of Banco Central ng Pilipinas, Joseph Alcala.

00:17Good morning and welcome to Balitang Hali.

00:19Good afternoon. Good morning, Sir Raffy.

00:23Yes. When will these banknotes arrive in other parts of the Philippines?

00:30As you said earlier, starting today, our new polymer banknotes will be issued in our banks.

00:38These include 500, 150-peso polymer banknotes.

00:42And by January 2025, these will be available in other parts of the country.

00:49Good luck to Metro Manila.

00:51But first of all, please explain to our viewers why we need to change the polymer banknotes, the paper money.

00:56Have we ever had this type of money before?

00:59First of all, no. This is the first time in our country.

01:03This is a way for the BSP to continue to meet the new needs of our Filipinos.

01:09We launched the new series of banknotes, the Smarter, Cleaner, and Stronger.

01:14This is an addition to the 1,000-peso polymer banknotes that we launched in 2022.

01:20The BSP issued 500, 150-peso polymer banknotes that will be included in the first Philippine polymer banknote series.

01:30These polymer banknotes have advanced and sophisticated security features.

01:37It is also expected that this will have a longer lifespan.

01:41Meaning, unlike our paper money, which has a shorter lifespan.

01:48Most of the time, our paper money returns to the circulation of less than a year.

01:56We are also expecting that it will be cleaner because it is resistant to water, oil, and dirt.

02:02Okay. Some people are also asking about the disappearance of some of our personalities, our heroes,

02:07and former presidents who are in debt.

02:11What can the BSP say about this?

02:13Yes. We continue to honor and feature our national heroes and natural wonders in our paper money.

02:20In this series of polymer banknotes, we feature the rich biodiversity of our country

02:27by showcasing different wildlife from Luzon, Visayas, to Mindanao.

02:32For 1,000 pesos, we can see the Philippine eagle that we can see in Mindanao.

02:39For 500 pesos, we can see the Visayan spotted deer that we can see in Visayas.

02:44For 100 pesos, we can see the Palawan peacock peasant that we can see in Palawan.

02:50For 50 pesos, we can see the Visayan leopard cat that we can also see in Visayas.

02:56Okay. Let's wait for the release of the new money. Thank you very much.

03:01Thank you very much, Sir Rafi. Thank you to everyone.

03:04BSP Banknotes and Securities Production Management Department, Deputy Director Joseph Alcala.

Panayam kay Joseph Alcala, Deputy Director, BSP (December 23, 2024) | Balitanghali

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