Philippine peso bills will soon feature national natural wonders including the majestic Mayon Volcano of Albay. The Bangko Sentral ng Pilipinas is set to release the new design of Philippine monetary bills and coins by the end of 2010. The new currency design will have brighter colors and will feature the Philippines’ natural wonders at the back side of the bills. The current design features historical landmarks.

Mayon Volcano at Dusk | Photo by Norman P. Aquino

According to Marlyn Paje, acting deputy director of BSP Legazpi Branch, the currency redesign is in accordance with the New Central Bank Act or Republic Act 7653 giving the Central Bank Monetary Board, with the approval of the Philippine President, the power to prescribe denominations, dimensions, designs and inscriptions and other characteristics of notes issued by the BSP.

Paje added that the new face of the Philippine currency is to circulate by 2013. From this year on, current bills and coins will still be considered as legal tender while a 5-year exchange period is in place. BSP redesigns the Philippine currency every 10 years as a measure to prevent counterfeiters from mastering the country’s currency notes. However, Paje said she did not know yet which peso denomination will feature a design bearing a picture of Mayon Volcano.

This is not the first time the famed Mayon is featured in the country’s currency. During the American colonial period, silver Philippine peso coins featured an erupting Mayon Volcano along with either Lady Liberty striking an anvil with a hammer or a male sitting on an anvil. The coins were in circulation from 1903 to the 1940s.

Philippine American coins featuring Mayon Volcano

Meanwhile, the provincial government of Albay expressed its elation and gratitude to BSP Governor Amando Tetangco Jr. for the inclusion of Mayon Volcano in the new currency design. Albay Governor Joey Salceda has asked the provincial legislative body to pass a resolution to articulate the gratitude of the people of Albay. “Aside from being the parochial pride of Albayanos, the inclusion of Mayon, the country’s most iconic natural endowment in the new currency will go a long way in promoting Albay tourism without having to see Mayon erupt to attract tourists,” Salceda said.

Sources:

Mayon Volcano photo to be featured on Philippine peso bills by Rey Nasol, Philippine Daily Inquirer April 8, 2010, accessed on April 9, 2010
Albayanos jubilant on Mayon peso bills by Mike de la Rama, Philippine News Agency, accessed April 9, 2010