THE Bangko Sentral ng Pilipinas (BSP) advises the public that the new P1000 polymer banknote is only worth its face value and should not be sold, traded, or bought for any other amount.
The P1000 polymer banknote will be circulated alongside the current P1000 paper banknote and both can be used for payments and transactions.
The Office of the President and the Monetary Board approved the issuance of the new P1000 polymer banknote, which the BSP is releasing in phases, starting April 2022. During the initial phase, ATMs and other cash processing machines will be calibrated to properly count and dispense the new P1000 polymer banknotes.
The new 1000-Piso polymer banknote strengthens the BSP’s efforts to respond to pressing public health and safety concerns due to the COVID-19 pandemic, promote environmental sustainability, and deter counterfeiting.
