The Central Bank of the Philippines has launched a new design for the P1,000 bill.

The Philippine eagle is featured, as well as other natural resources available in the country.

According to BSP Governor Benjamin Diokno, the new polymer or plastic P1000 bills will be in circulation by mid-2022 after the Bangko Sentral ng Pilipinas (BSP) signed a deal with the Reserve Bank of Australia.

Polymer banknotes, according to Diokno, are more environmentally friendly, cost-effective, hygienic, and difficult to counterfeit.