MANILA – The Bangko Sentral ng Pilipinas said Thursday it would issue new coins soon to replace the current series with new designs that are more durable and cheaper to produce.
Denominations with relatively weak demand would be stopped, while the larger ones – P1, P5 and P10 – will likely be continued, Deputy Governor Diwa Guinigundo told DZMM.
The new coin designs will be released “in a year or so,” Guinigundo said.
“Maaaring mag-drop ng isa o dalawang denomination dahil ang demand bumaba,” he said.
(We could drop one or two denominations because of low demand.)
While often neglected the P0.01 coin will likely be continued as required by law, Guinigundo said. The current design features Filipina revolutionary Melchora Aquino.
Aside from the design, the metallic composition of the coins could also be changed and will be submitted to President Rodrigo Duterte for approval.