Central Banks and Cash Round-Up

In our latest monthly summary of central bank annual reports, we look at the Philippines, Korea, Indonesia, Liberia, Eastern Caribbean, Colombia and Taiwan.

Bangko Sentral ng Pilipinas (BSP)

BSP produced 2.3 billion banknotes and 1.3 billion coins in 2022. In addition, it produced 1,440 presidential medals and state decorations, 5,943 commemorative coins, and 3,632 commemorative medals.

Polymer notes: BSP started issuing 1,000 piso polymer banknotes in April 2022. It says that its focus on clean notes and sustainability are behind its decision to adopt polymer. By 2023, the BSP expects 500 million 1,000 piso polymer banknotes to be in circulation alongside the existing 1,000 piso paper banknotes. It is planning to work with a state university to conduct studies on how unfit polymer banknotes can be usefully used.