MANILA—The P20 banknote is still legal tender and can be used alongside the P20 coin for transactions, Bangko Sentral ng Pilipinas said Tuesday.
The P20 bill will be gradually removed from circulation through natural attrition or until a banknote is no longer fit for recirculation, BSP said in a statement.
"The Bangko Sentral ng Pilipinas (BSP) advises the public that the 20-Piso New Generation Currency (NGC) banknotes remain as legal tender and can be used alongside the 20-Piso NGC coins for day-to-day transactions," it said in a statement.
Alongside the advice, BSP reiterated its call to recirculate P20 coins. Some people keep the P20 in coin banks as savings.
"The BSP enjoins the public to properly use and to recirculate Philippine coins for their economic and cultural value," it said.
The bicolor P20 coin was released in December 2019 with the other side featuring Manuel L. Quezon while the reverse side shows the BSP logo, the Malacañang Palace and a Nilad plant.
The P20 is also the most used denomination among all circulated Philippine money, BSP. Gov. Benjamin Diokno earlier said.
FROM OUR ARCHIVES: