Bangko Sentral to circulate 500 million pieces of new polymer P1,000 banknote

The Bangko Sentral ng Pilipinas will finish the release of at least 500 million pieces of the new polymer P1,000 banknote in 2023, Bangko Sentral ng Pilipinas Deputy Governor Mamerto Tangonan said Thursday.

At least 10 million pieces have already been released, the central bank earlier said. 

Tangonan also reminded the public that the older paper banknote won't be decommissioned and would remain legal tender alongside the polymer bill. 

The newly designed P1,000 banknote started circulation last April 18.