PRESIDENT Ferdinand R. Marcos, Jr. said the country has now reached a new milestone as an emerging economy after the Bangko Sentral ng Pilipinas (BSP) rolled out its new state of art commemorative currency last Monday.
“We have used the most modern technology, which also signifies that the Philippines is at that stage in its development that we are now at the forefront and we’ll use the best technologies, the best techniques, everything that is good and new for our country,” Marcos said in his speech during the launch event in Malacañang.
The BSP unveiled the new coin set, which was composed of 100-peso, 20-peso and 5-peso denominations for the commemoration of the 125th anniversary of Philippine independence and nationhood.
The 100-peso coin depicted an image of the 1898 declaration of Philippine independence, while the 20-peso coin showed the birth of the country’s first republic at the Barasoain Church.
Meanwhile, the 5-peso coin featured the bravery of the Filipinos who fought for the country’s sovereignty in the Philippine-American War.
The coins were produced with the latest digital printing technology becoming the first colored, non-circulation, commemorative coins of the BSP.
BSP Governor Felipe M. Medalla said the commemorative coins are part of their initiative to preserve cultural heritage and promote national pride.
Medalla said the central bank will announce in its social media channels when the coins will be available in its store.
Marcos said the coins are not only “nice souvenirs” but also highlights the country’s significant progress since its independence from the almost four-century rule of Spain.
“It is particularly significant when we do this via these coinages that we have created for the 125th Independence Day because in a very real sense, the establishment of a formal currency, like any country, is part of the definition of being a sovereign nation,” the President said.
The country will be celebrating the 125th anniversary of Philippine independence and nationhood from 2023 to 2026 with the theme, “Kalayaan. Kinabukasan, Kasaysayan (freedom, the future, and history).”
Image credits: Alfred Frias/PNA