BSP studies issuance of ₱20 coin

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Metro Manila (CNN Philippines, July 19) — The Bangko Sentral ng Pilipinas (BSP) might issue ₱20 coins in the future.

In a statement, the BSP announced there is a recommendation to replace the ₱20 bill with a coin version.

This is based on a study by the University of the Philippines, which found that the ₱20 bill is the most used denomination for small-value transactions, and is prone to have a shorter life span.

The BSP is currently studying the design, specifications, enhancements and security features of the ₱20 coin.

The proposal is subject to the approval of the Monetary Board, the policy-making arm of the BSP, and the final approval of the President of the Philippines.