P20 banknote remains legal tender –BSP

The Bangko Sentral ng Pilipinas (BSP) on Monday advised the public that P20 New Generation Currency (NGC) banknotes remained legal tender and could be used alongside the P20 NGC coins for transactions.

The P20 NGC banknotes would be gradually removed from circulation through natural attrition or until the P20 banknotes become unfit for recirculation.

The BSP had recently issued an advisory to banks to promote the distribution, recirculation, and mobilization of the P20 coins.

The BSP released the new P20 NGC coin on December 17, 2019.

The bi-color P20 coin retains major elements of the P20 banknote. The obverse side of the coin features Manuel L. Quezon, while the reverse side shows the BSP logo, the Malacañang Palace, and the Nilad plant.

The BSP urged the public to properly use and recirculate Philippine coins for their economic and cultural value. — DVM, GMA News