The P20 Bill Could Be Phased Out Soon With The Release Of A P20 Coin By 2020

The Bangko Sentral ng Pilipinas said the coin will be 'easily distinguishable.'
PHOTO: BANGKO SENTRAL NG PILIPINAS WEBSITE

The P20 note is one of the most widely used denominations for payments, according to the Bangko Sentral ng Pilipinas (BSP). In line with this, the BSP announced on October 14 that it would release into circulation a P20 coin by 2020.

The BSP said that the new coin will be “more cost-effective.” The coin will have a new design but will retain the face of former President Manuel L. Quezon. It will be launched in December 2019 and presented by BSP Governor Benjamin Diokno. In addition, the coin will be “easily distinguishable” from other coins.

In July 2019, the BSP first unveiled its plans of releasing a P20 coin, citing that coins tend to last longer compared to paper bills. 

Along with a new P20 coin, the BSP will also release an enhanced version of the P5 coin as it is often confused with the P1 coin.

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