‘Erasing history’?: Philippines’ new banknotes do not feature the Aquinos, sparking anger

A critic of Ferdinand Marcos Jnr accuses him of attempting to reshape the country’s history by removing the Aquinos from the 500-peso notes

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Current 500 Philippine-peso banknotes featuring the late opposition leader Benigno Aquino Jnr and his wife, former president Corazon Aquino, and the new notes featuring the Visayan spotted deer on the front. Photo: Jeoffrey Maitem

Published: 2:52pm, 23 Dec 2024Updated: 3:11pm, 23 Dec 2024

The Philippines has released a new series of polymer banknotes that no longer feature portraits of its political heroes, including the late opposition leader Benigno Aquino Jnr and his wife, former president Corazon Aquino, both icons in the fight against the dictatorship of the father of current leader Ferdinand Marcos Jnr.

On Thursday, the Bangko Sentral ng Pilipinas (BSP) presented the first polymer banknote series, which highlights the country’s rich biodiversity and cultural heritage. The series includes the 1,000-peso polymer introduced in April 2022 and new polymer denominations of 500 pesos, 100 pesos, and 50 pesos, and will be available in time for Christmas and circulated nationwide in January next year.

Critics, however, warn the decision to remove heroes and former presidents from the banknotes reflects a disregard for the causes they fought for.

In a statement, the BSP explained it followed a cyclical pattern in selecting currency design themes and showcased symbols of national pride across various denominations over the decades.

The new series will display images of the country’s native and protected species and traditional weave designs. For instance, the new 500-peso banknotes feature the Visayan spotted deer on the front and the Acanthephippium mantinianum plant on the reverse side.

BSP Governor Remolona said: “The polymer series raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride.”