A new family of circulation coins will be issued by the Bangko Sentral ng Pilipinas, the Central Bank of the Philippines, later this year but it will no longer include the 10-cent denomination coin.
According to a report by centralbanking.com, the Central Bank of the Philippines intends to issue its new family of coins by the end of 2017.
The Bank first announced its intention to release a new set of banknotes and coins in 2015, advising that they would be issued into circulation within four years. They will replace the currently circulating coin family last issued in 1995, and the banknotes last issued in 2010.
In an interview with the Central Bank’s Deputy Governor, it was confirmed that the new coin family would consist of the 10-piso (US $0.20), 5- and 1-piso, as well as the 1- and 5-cent coins.
Read the full article from centralbanking.com
More to follow on this article, as yet unconfirmed on the Central Bank of the Philippine’s website.
