currencies

NHCP hands off in heroes’ removal from P1,000 bill

Ralf Rivas
NHCP hands off in heroes’ removal from P1,000 bill
The National Historical Commission of the Philippines, the agency responsible for preserving historical legacies, says it should be 'spared' from the issue because changes in banknotes are up to the central bank and Malacañang

MANILA, Philippines – The National Historical Commission of the Philippines (NHCP) denied that it approved the removal of the portraits of World War II heroes from the P1,000 banknote.

“NHCP was not part of the process of approval,” NHCP Chairman Rene Escalante told Rappler on Monday, December 13.

Escalante distanced himself and the NHCP, the government body responsible for the “preservation of the country’s historical legacies,” from the erasure of martyrs Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos from the redesigned bill. Their faces will be replaced by the Philippine eagle.

“All queries about the P1,000 banknote should be addressed to the BSP [because] they are the ones responsible for it. NHCP should be spared from this issue [because] we did not play any role in the process,” he said, referring to the Bangko Sentral ng Pilipinas.

Escalante added that changes in banknotes are up to the BSP and Malacañang.

“This is a prerogative of BSP and OP (Office of the President),” he said.

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History at stake: P1,000 redesign angers World War II heroes’ families

Descendants of the war heroes have denounced the move of the central bank.

Former BSP governor Jose Cuisia Jr. earlier told Rappler that featuring the martyrs was an “opportunity to show valor of heroes.”

The new P1,000 bill, which will be made of polymer, will be in circulation by April 2022. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.