BSP is set to produce P20 coins before 2019 ends

BSP is set to produce P20 coins before 2019 ends

- The Bangko Sentral ng Pilipinas would be releasing P20 coins

- The design of the coin is still being finalized

- BSP is likely to launch the P20 coin before 2019 ends

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An official from the Bangko Sentral ng Pilipinas (BSP) announced that the Philippine 20-peso note will soon have its coin counterpart.

KAMI learned that the new coin may be launched during the 4th quarter of 2019 or 1st quarter of 2020 at the latest.

In a report by the News5, the decision to create the P20 coin came after a study of the University of the Philippines found that the P20 bill was the dirtiest banknote since it was being used the most.

BSP Assistant Governor Dahlia Luna said the design of the P20 coin is still being finalized.

"The lifespan of a coin when recirculated is more than 10 to 15 years compared to banknotes which is less than one year," Luna said.

The BSP also mentioned that the production cost of the new coins would be more expensive. However, the price would outweigh its longevity.

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Source: Kami.com.ph

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