Reception Hall, Malacañang
May 9, 2018
President Rodrigo Roa Duterte led the presentation of the New Generation Currency (NGC) banknotes and coins held at the Reception Hall of Malacañan Palace.
The NGC banknotes and coins are the new series of Philippine banknotes and coins released by the Bangko Sentral ng Pilipinas (BSP) in 2018, upon the recommendation of the Monetary Board and approval of the President of the Republic of the Philippines. The presentation follows the issuance of the NGC banknotes in 2010.
“I am grateful to the BSP for taking the lead in creating a stronger and safer financial systems and safeguarding the integrity of the Philippine currency,” said the President in his keynote speech, adding that there is a law under the Philippine constitution requiring the BSP to change the design of Philippine banknotes and coins.
“This is to enhance its security features as well as to prevent forging and improve durability. Initiatives like this are meant to promote public trust and confidence in our financial system,” he said.
With the release of the NGC banknotes and coins, the BSP’s objective is to improve the institution’s capability to print and produce money with the latest anti-counterfeiting features through new technologies.
President Duterte also called on to all the BSP officials present to intensify their programs against counterfeiting and conduct more information drive to protect the citizens from deceit and confusion.
“We do this because public interest is at the heart of the administration’s priorities,” he ended.
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