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Keep the value of new currencies, Duterte tells banking officials

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By Genalyn Kabiling

President Duterte has urged banking authorities to safeguard the country’s new banknotes and prevent their devaluation during his term.

President Rodrigo Duterte (JANSEN ROMERO / MANILA BULLETIN)

President Rodrigo Duterte (JANSEN ROMERO / MANILA BULLETIN)

The President said the new generation currency series now bearing his name and signature as well as those of new Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno must retain their “original value.”

“I hope that the notes that we signed together with the honorable Central Bank Governor… huwag sana ma-devalue sa panahon natin. Nandiyan ‘yung pirma natin eh [I hope they won’t be devalued during our term. Our signatures are there],” he said during the presentation of the new banknotes at the Palace.

“Make sure that it would always retain its original value, not only the paper,” he added.

The President made the remarks after he received the new generation banknotes from Diokno and other banking officials at the Palace.

The BSP will begin issuing the new banknotes bearing the name and signature Diokno, who took his oath as Central Bank governor last March. The local banknotes must be signed by state authorities based on the country’s laws.

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