12. History of Philippine Paper Money

New Design/BSP Series

The Central Bank set about designing and printing a new series of banknotes after Martial Law was lifted in 1981. These banknotes would utilise the latest in banknote anti-counterfeiting measures available at the time. Banknotes would take on themes highlighting political, social and economic achievements and would adopt more Filipino background patterns (like thatching) in their designs.

Release of the notes was slow, with the 5 piso being released on June 12 1985 and the 10 piso in the following month. 1986 would see the introduction of the 20 piso note with the 50, 100 and 500 denominations following in 1987. The 200 piso was introduced in 2002 and depicts Gloria Macapagal-Arroyo being sworn in as president. This was the only Filipino banknote to feature a president who was still in office (not retired or buried).

Banknotes released prior to 1993 are known as the “New Design Series” and have the older BSP seal #4 printed on them. Banknotes released from 1993 are known as the “BSP Series” and have additional security features built into the notes and also contain the the BSP seal #5.

This particular series contained the release of several commemorative notes, more than in previous years. Most notably was the 2009 release of 20, 50, 100, 200, 500 and 1,000 denominations commemorating the 60th anniversary of central banking in the Philippines. All banknotes were demonetized from 1 July 2017.

Seals used in this series:

Image	Year/Denomination	Notes
Type 168b Type 168d Type 168e Type 180 Type 175 Type 176 Type 178b	5 Piso 1985-1993 (Type 168) 1995-1997 (Type 180) Commemorative Notes: 1986 -“President Corazon Aquino Visit to America” commemorative (Type 175). 1987 – “Canonization of Blessed Lorenzo Ruiz” commemorative (Type 176). 1989 – “40th Anniversary of Banko Sentral ng Pilipinas” commemorative (Type 177). 1990 – “Kababaihan Para Sa Kaunlaran” (women for development) commemorative (Type 178a has black serial no/Type 178b has red serial no.). 1991 – “Second Plenary Council of the Philippines” commemorative (Type 179).	Banknotes from 1985-1992 (Type 168) have seal #4 whereas notes from 1995 (Type 180) have seal #5. Type 168a: Signatures F. Marcos / J. Fernandez with serial no. in black (1985-1986) Type 168b: Signatures C. Aquino / J. Fernandez with serial no. in black (1986-1990) Type 168c: Signatures C. Aquino / J. Fernandez with serial no. in red (1990) Type 168d: Signatures C. Aquino / J. Cuisia Jr. with serial no. in red (1990-1992) Type 168e: Signatures M. Ramos / J. Cuisia Jr. with serial no. in red (1992-1993) Type 180: Signatures Ramos / Singson (1995-1997)
Type 169b Type 181a Type 181b Type 187c Type 187e Type 187i	10 piso 1985-1993 (Type 169) 1995-1997 (Type 181) 1997-2001 new design (Type 187) Type 187 banknotes feature both Apolinario Mabini and Andres Bonifacio on the front of the banknote. Previous notes in this series (Type 169) featured only Apolinario Mabini.	Banknotes from 1985-1993 (Type 169, 181) depict only Apolinario Mabini on the front. From 1997 the new design (Type 187) depicts both Apolinario Mabini and Andres Bonifacio. Type 169 notes have seal #4 while 181 and 187 have seal #5. Type 169a: Signatures F. Marcos / J. Fernandez Type 169b: Signatures C. Aquino / J. Fernandez Type 169c: Signatures C. Aquino / J. Cuisia Jr. with serial no. in black Type 169d: Signatures C. Aquino / J. Cuisia Jr. with serial no. in red Type 169e: Signatures M. Ramos / J. Cuisia Jr. Type 181a: Signatures Ramos / Singson. Has serial no. in red Type 181b: Signatures Ramos / Singson. Has serial no. in black Type 187a: Signatures Ramos / Singson with single figure watermark Type 187b: Signatures Ramos / Singson with serial no. in black and single figure watermark Type 187c: Signatures Ramos / Singson with double figure watermark Type 187d: Signatures Ramos / Singson with serial no. in red and double figure watermark Type 187e: Signatures Estrada / Singson with serial no. in red Type 187f: Signatures Estrada / Buenaventura with serial no. in red Type 187g: Signatures Estrada / Buenaventura with serial no. in black Type 187h: Signatures Arroyo / Buenaventura with serial no. in black Type 187i: Signatures Arroyo / Buenaventura with serial no. in red
Type 182a Type 182i Type 182j	20 Piso 1986-1993 (Type 170) 1997-2012 (Type 182) Commemorative Notes: 2004 – “International Year of Microcredit” commemorative (Type 198). 2009 – “60th Anniversary of Central Banking in the Philippines” commemorative (Type 200).	Banknotes from 1986-1993 (Type 170) have seal #4 whereas notes from 1997 (Type 182) have seal #5. Type 170a: Signatures F. Marcos / J. Fernandez with serial no. in black (1986) Type 170b: Signatures C. Aquino / J. Fernandez with serial no. in black (1986-1990) Type 170c: Signatures C. Aquino / J. Cuisia Jr. with serial no. in black (1990) Type 170d: Signatures C. Aquino / J. Fernandez with serial no. in red (1990-1992) Type 170e: Signatures M. Ramos / J. Cuisia Jr. with serial no. in red (1992-1993) Type 170f: Signatures M. Ramos / J. Cuisia Jr. with serial no. in black (1992-1993) Type 182a: Signatures M. Ramos / Singson with serial no. in red (1997) Type 182b: Signatures M. Ramos / Singson with serial no. in black (1997-1998) Type 182c: Signatures J. Estrada / Singson with serial no. in black (1998-1999) Type 182d: Signatures J. Estrada / Singson with serial no. in blue (1999) Type 182e: Signatures J. Estrada / Singson with serial no. in red (1999) Type 182f: Signatures J. Estrada / Buenaventura (2000) Type 182g: Signatures J. Estrada / Buenaventura (2001) Type 182h: Signatures Macapagal- Arroyo / Buenaventura with serial no. in blue (2001) Type 182i: Signatures Macapagal- Arroyo / Buenaventura with serial no. in black (2001-2005) Type 182j: Signatures Macapagal- Arroyo / Tetangco (2005-2010) Type 182k: Signatures Acquino III / Tetangco (2010-2012)
Type 193b Type 193d Type 215 Type 216 Type 217	50 Piso 1987-1993 (Type 171) 1998-2001 (Type 183) 2001-2013 (Type 193) Commemorative Notes: 1999 – “50 Years of Central Banking in the Philippines” commemorative (Type 191). 2009 – “60th Anniversary of Central Banking in the Philippines” commemorative (Type 201). 2012 – “DFA-Asean 45th Anniversary” commemorative (Type 211a). 2013 – “Canonization of St. Pedro Calungsod” commemorative (Type 215). 2013 – “Trinity University of Asia 50th Anniversary” commemorative (Type 216). 2013 – “PDIC 50th Anniversary” commemorative (Type 217).	Banknotes from 1987-1993 (Type 171) have seal #4 whereas notes from 1998 (Type 183 and 193) have seal #5. Type 171a: Signatures C. Aquino / Fernandez (1987-1990) Type 171b: Signatures C. Aquino / Cuisia (1990-1992) Type 171c: Signatures M. Ramos / Cuisia (1992-1993) Type 183a: Signatures M. Ramos / Singson (1995-1997) Type 183b: Signatures M. Ramos / Singson with serial no. in red (1998) Type 183c: Signatures J. Estrada / Buenaventura with serial no. in red (1999-2001) Type 183d: Signatures Macapagal- Arroyo / Buenaventura with serial no. in black (2001) Type 193a: Signatures Macapagal- Arroyo / Buenaventura (2001-2004) Type 193b: Signatures Macapagal- Arroyo / Tetangco with serial no in black (2005-2009) Type 193c: Signatures Macapagal- Arroyo / Tetangco (2010) Type 193d: Signatures Aquino III / Tetangco (2011-2013)
Type 184a Type 194a Type 194b Type 194c (spelling error) Type 194d Type 212 Type 212a Type 212b Type 213 Type 218 Type 220 Type 221	100 Piso 1987-1993 (Type 172) 1998-2001 (Type 184) 2001-2013 (type 194) Commemorative Notes: 2001-onwards notes had upgraded security features 1998 – “National Centennial Commission” (Type 188a/188b). 2008 – “Centennial University of the Philippines” (Type 199). 2009 – “60th Anniversary of Central Banking in the Philippines” (Type 202). 2011 – “University of the Philippines College of Law 75th Anniversary Celebration” (Type 212). 2011 – “De La Salle University Centennial Celebration” (Type 212a). 2011 – “University of the Philippines College of Law Centennial Celebration” (Type 212b). 2012 – “Manila Hotel – 100th Anniversary” (Type 213). 2012 – “Centennial of the Masons” (Type 213a). 2013 – “20 years of The central bank (Wastong Pananalapi Tungo sa Kaunlaran)” (Type 218). 2013 – “Shell – 100 Years of oils in the Philippines” (Type 219). 2013 – “Department of Agriculture/National Year of Rice” (Type 220). 2013 – “100 Years of Iglesia Ni Cristo” (Type 221).	Banknotes from 1987-1993 (Type 172) have seal #4 whereas notes from 1998 (Type 184 and 194) have seal #5. Type 172a: Signatures C. Aquino / Fernandez with serial no. in black (1987-1990) Type 172b: Signatures C. Aquino / Fernandez with serial no. in red (1990) Type 172c: Signatures C. Aquino / Cuisia Jr. with serial no. in black (1990-1992) Type 172d: Signatures C. Aquino / Cuisia Jr. with serial no. in red (1990-1992) Type 172e: Signatures M. Ramos / Cuisia Jr. with serial no. in red (1992-1993) Type 172f: Signatures M. Ramos / Cuisia Jr. with serial no. in blue (1992-1993) Note: Type 184 banknotes have seal #5 and do not have the security thread (194 has the security thread and seal #5). Type 184a: Signatures Ramos / Singson (released 1998 but no date is printed). Serial no. in red. Type 184b: Signatures Ramos / Singson (1998) with serial no. in red. Type 184c: Signatures Estrada / Singson with serial no. in red (1998) Type 184d: Signatures Estrada / Singson with serial no. in black (1998-1999) Type 184e: Signatures Estrada / Buenaventura (1999-2000) Type 184f: Signatures Estrada / Buenaventura (2001) Type 194a: Signatures  Macapagal-Arroyo / Buenaventura (2001-2004) Type 194b: Macapagal-Arroyo / Tetangco (2005-2010) Type 194c: Signatures Macapagal-Arroyo / Tetangco – Note: President’s name spelled incorrectly under signature, spelled as “ARROVO” (2005) Type 194d: Signatures  Aquino III / Tetangco (2011-2013)
Type 195a Type 195b Type 214	200 Piso 2002-2013 (Type 193) Commemorative Notes: 2009 – “60th Anniversary of Central Banking in the Philippines” commemorative. 2011 – “400th Anniversary of the University of St. Tomas” commemorative (Type 214).	All 200 piso notes in this series feature seal #5. Type 195a: Signatures Macapagal-Arroyo / Buenaventura (2002-2004) Type 195b: Signatures Macapagal-Arroyo / Tetangco (2007-2010) Type 195c: Signatures Aquino III / Tetangco (2010-2013)
Type 185a Type 196a	500 Piso 1987-1993 (Type 173) 1998-2001 (Type 185) 2001-2013 (Type 196) 2001-onwards (Type 196) notes had upgraded security features in type 1986 – most visibly is the wide security thread. Commemorative Notes: 2009 – “60th Anniversary of Central Banking in the Philippines” commemorative (Type 204). 2012 – “Manila Board of Governors Annual Meeting – Asian Development Bank” commemorative (Type 214b).	Banknotes from 1987-1993 (Type 173) have seal #4 whereas notes from 1998 (Type 185 and 196) have seal #5. #196 notes will have the security thread visible. Type 173a: Signatures C. Aquino / Fernandez (1987-1990) Type 173b: Signatures C. Aquino / Cuisia Jr. (1990-1992) Type 173c: Signatures M. Ramos / Cuisia Jr. (1992-1993) Type 185a: Signatures Ramos / Singson (1998) Type 185b: Signatures Estrada / Singson (1998) Type 185c: Signatures Estrada / Singson (1999-2000) Type 173d: Signatures M. Ramos / Buenaventura (1999-2001) Type 196a: Signatures Macapagal-Arroyo / Buenaventura (2001-2005) Type 196b: Signatures Macapagal-Arroyo / Tetangco (2005-2009) Type 196c: Signatures Acquino III / Tetangco (2010-2013)
Type 197b Type 197d	1000 Piso 1991-1994 (Type 174) 1998-2001 (Type 186) 2001-2012 (Type 197) 2001-onwards notes had upgraded security features in type 1986 – most visibly is the wide security thread. Commemorative Notes: 2009 – “60th Anniversary of Central Banking in the Philippines” commemorative (Type 205).	Banknotes from 1981-1994 (Type 174) have seal #4 whereas notes from 1998 (Type 186 and 197) have seal #5. Type 174a: Signatures C. Aquino / J. Cuisia Jr. (1991-1992) Type 174b: Signatures M. Ramos / J. Cuisia Jr. (1994) Type 186a: Signatures Ramos / Singson (1998) Type 186b: Signatures Estrada / Singson (1998-1999) Type 186c: Signatures Estrada / Buenaventura (1999-2000) Type 186d: Signatures Macapagal-Arroyo / Buenaventura (2001) Type 197a: Signatures Macapagal-Arroyo / Buenaventura (2001-2004) Type 197b: Signatures Macapagal-Arroyo / Tetangco (2005-2010) Type 197c: Signatures Macapagal-Arroyo / Tetangco (2007) Type 197d: Signatures Acquino III / Tetangco (2010-2012)

Read on for New Generation Series.