Central Banking

Philippines bats away attacks of new banknote series: reports

500-piso-20reverse

The Central Bank of the Philippines on Monday shrugged off criticisms of its new series of banknotes, Filipino media reported.

The central bank's on Friday released new banknotes in the P20 ($0.44), P50, P100, P200, P500 and P1,000 denominations.

The notes have been slammed by sections of Filipino population and press for incorrect depictions of the country's geography and wildlife. The blue-naped parrot, a native bird of country, is incorrectly depicted on the back of P500 ($11.2) banknote with

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