100 Philippine Peso to Change Color

The Central Bank of the Philippines (BSP) met a proposal by the Republic's President about the need to change the color of the 100 Peso outwardly confused with the 1,000 Peso. Under the proposal, BSP is to make the 100 Peso's mauve color more saturated and blue less bright.

Maya Gratia Malik, BSP Assistant Governor for Banknotes, advised the Filipinos to obtain maximum information on the national currency, adding that on the new banknote series of 2010 all denomination digits were enlarged for easy note distinction.

Nevertheless, many Filipinos complain that often confuse the 100 and 1,000 Pesos. For example, some sellers on the Visayas admit that sometimes they change with the 100 Peso instead of the 1,000 note and sometimes receive the smaller denomination from buyers. The 20 and 50 Pesos are also often confused, but BSP has had no plans to alter these notes.

According to Ms. Malik, banknote redesign costs will be minimal, since they will only involve changing the 100 Peso's palette. The BSP Monetary Board has already approved the President's proposal, and his final resolution will launch the banknote update process.

Source: www.ABS-CBNnews.com agency