P1,000 bill with faces of three Philippine heroes will not be demonetized –Palace

The new P1,000 banknote design showing the Philippine eagle in place of three Filipino war heroes is only for test circulation, Malacañang said Tuesday.

“Our P1,000 bill that shows the faces of our heroes and martyrs will not be demonetized,” acting presidential spokesperson Karlo Nograles said at a press briefing.

“This new design with polymer material is only for test circulation,” he added, when asked if erasing heroes on Philippine banknotes will now be a policy of the Duterte administration.

Several lawmakers and personalities questioned the new design of the P1,000 banknote where the faces of Josefa Llanes Escoda, Vicente Lim and Jose Abad Santos were removed.

Escoda, Lim and Santos were killed by Japanese forces in World War II in defense of the Philippines’ freedom from the colonizers.

Nograles, citing the Bangko Sentral ng Pilipinas, said the test circulation of the new P1,000 bill will start in April 2022.

“The test circulation will be done to validate if the polymer material is environment friendly, more hygienic considering we are still facing a pandemic, or if it is more secure,” he said.

Nograles, however, could not say until when the test circulation would be implemented, and if the faces of the three heroes would be restored after the test circulation period.

“The new design for banknotes is cyclical and is done in validating advantages of the polymer material, with the assurance that the existing P1,000 bill with the faces of our heroes will not be demonetized,” Nograles said. —KBK, GMA News

P1,000 bill with faces of three Philippine heroes will not be demonetized –Palace
Source: Filipino Viral News PH