Banknotes of the Philippine peso are issued by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) for circulation in the Philippines. The BSP is the one responsible in issuing the right amount of bills needed for the country. In early times, there were still that 5-peso and 10-peso bill but it also had it’s demonetization and were no longer used.
As for the information of everyone, The BSP was also able to release the said to be the world’s largest banknote according to the Guinness Book of World Records which is the commemorative 100,000-Peso bill. Yes! it really exists. The banknote is printed on paper as big as a legal-sized bond paper. It has dimensions of 356mm width and 216mm height. And was made in Germany.
Front: Cry of Pugadlawin, Philippine Centennial Commission Logo, BSP Logo
This banknote was issued during the Centennial of Philippine Independence in 1998. The banknote has 21 security features including a hologram, making it very hard to counterfeit. On release, this collector’s item was sold at P180,000. Today, it is worth many times more.
Back: Declaration of Independence
In the same way, The Central Bank of the Philippines also issued only 300,000 pieces of this 216mmx133mm 2,000 Philippine Peso Centennial Commemorative Legal tender Banknote.
The obverse side features President Joseph Ejercito Estrada taking his oath of office on June 30, 1998 in the historic Barasoain Church, the seat of the first democratic republic in Asia shown in the background as well as the scroll of the Malolos Constitution and the seal of the BSP (Bangko Sentral ng Pilipinas).
The reverse side depicts the re-enactment of the declaration of Philippine Independence at the Aguinaldo Shrine in Kawit, Cavite on June 12, 1998 by President Fidel V. Ramos and also features the Philippine Centennial Commission logo.
But then a recent news comes out about the demonetization of the 100,000 and 2,000 peso bill. According to the GMA News Online, the Bangko Sentral ng Pilipinas (BSP) on Tuesday said it will start demonetizing the commemorative P100,000 and P2,000 paper bills issued during the administration of then-President Joseph Estrada. That, they said the P100,000 and P2,000 paper bills will lose its value and many no longer be eligible as legal tender starting Aug. 1, 2018.
Source: GMA News Online