The P20 coin will initially coexist with the banknote version. But the banknote will be gradually removed from circulation.
MANILA, Philippines – The Bangko Sentral ng Pilipinas is still keeping theunder wraps, but noted that it is on track to reveal the look of the new coin this December.
A study by the University of the Philippines noted that it is the most used denomination for payments across the country. It is easily rendered unfit for circulation and often returned to the BSP for replacement. The P20 coin will initially coexist with the banknote version as legal tender. However, the banknote will be gradually removed from circulation.
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