The Bangko Sentral ng Pilipinas will introduce into circulation a hundred million new generation currency (NGC) banknotes in time for the Christmas holiday season when crisp peso bills are all the rage, especially with children who get money as their aguinaldo.
These peso bills will be added to the almost 300 million currency notes already in circulation. Recently, the New Generation banknote won a top international prize in a recent design competition held in Singapore.
Despite the effort of the government to familiarize the public regarding these notes, several complains are being received by the BSP including the notes unattractive design which can be considered ironic in spite of the recent award it bagged.
The public is also being warned that counterfeit money will be out again in mass this holiday. People are being to be cautious and scrutinize bills passed on to them especially those of higher denominations.