The Philippine currency is regarded as one of the most utilized currencies in the world. This is due to worldwide transactions made by Filipinos around the world who are circulating the money around the world. This is also locally circulated by Filipinos across the Philippines when they transact with businesses as means to acquire goods and services. Foreigners are also helping Filipinos to circulate their monetary currencies by means of engaging in either local and international transactions using the Philippine currency.
Since the Philippine Peso Bills are always being revitalized by the government, changing the colors and revising existing design every decade, curious minds start to suggest something unique about the currency. What if President Rodrigo Duterte will also be included to banner some Philippine Peso Bills in the near future? This is the question that many would like to know if it is possible for the government once that they want to change some features of the Philippine Peso Bills. The question is, who will you choose to take over, President Rodrigo Duterte? or former president Cory Aquino with his husband Ninoy Aquino?
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| President Rodrigo Duterte at the top and Aquino Couple at the bottom of 500 Philippine Peso Bill |
The current Philippine Peso has at least six total bill denominations. These are the 1000 peso bill, 500 peso bill, 200 peso bill, 100 peso bill, 50 peso bill, and 20 peso bill. Former bills were already dismantled such as the 10 peso bill and the 5 peso bill being replaced by coins. These banknotes are issued by the Central Bank of the Philippines (Banko Sentral ng Pilipinas), which is now circulated across the Philippines and outside the country. The current value of the Philippine peso for 1 US dollar is averaging between 49.50 to 50.30 as of December 23, 2016. The value might either appreciate or depreciate next year as influenced by several economic factors. This is why every person should know the 5 money saving tips in order to gain as much as Php 69,000 in 52 weeks or more.
The Philippine currency is heavily affected by the movement of inflation, affecting the value of the currency to other foreign bank notes. For the next coming decades, it will not be a surprise if there will be new denominations that will be released by the Central Bank of the Philippines that are available for circulation. During the presidential administration of Fidel V. Ramos, there was a plan to create a 100,000 Peso Bill. However, the value is too high for ordinary citizens to use it for circulation. But in the future, higher Peso Bill denominations will soon surface by the Central Bank of the country.
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Which will you Prefer in 500 Bill, Duterte or Aquino?
Filipinos love the current Philippine president, which they referred to as Father Digong. Rodrigo Duterte is the incumbent president of the Philippines. He won the recent Philippine National Elections last May of 2016 with a landslide victory of 16 Million votes. Duterte is expected to step down for the next president on June 30, 2022, which is six years from now. As based on the Philippine constitution, the President, Vice-President, and the Senators of the Philippines are given at least six years in power after winning the elections.
People want President Rodrigo Duterte to be the face in one of the Philippine Peso bills because they believe that his phenomenal influence in the society is very influential and inspirational. His legacy will be permanently remembered by both the Philippines and foreigners due to his influential impact on the community. His charm, accomplishments, and charisma make him as an ideal leader that his followers want his legacy to be remembered forever. He was even enlisted as the world's top 70th most powerful people in the world by Forbes Magazine.
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Why the Aquino couple should remain in the 500 peso bill?
During Cory Aquino's presidency, the Central Bank of the Philippines released a new banknote with the face of Ninoy Aquino in 500 peso bill. But during Benigno Aquino III's presidency, the Central Bank revitalized the Philippine Peso bills, adding former president Cory Aquino together with Ninoy Aquino on the 500 Peso bill. Aquino clan is also an influential clan in the Philippines. Cory Aquino was the former Philippine president who was the first woman president in the country. She served between 1986 and 1992 until she was succeeded by Fidel V. Ramos.
Since the legacies of Ninoy Aquino and Cory Aquino can be always remembered through the 500 Peso Bill, people have already been used to seeing them together in that certain denomination. It has been four decades that the Filipinos were already used to holding and seeing 500 peso bill while transacting in order to avail several goods and services. The Aquino clan has a wide base of followers, who will be fighting for their will and determination to retain the Aquino couple in the 500 peso bill if there are plans to change it.
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Challenges
It will take time for a new Peso Bill to be revised if the current administration plans to change the 500 Peso Bill. There are legal processes that should be applied and followed strictly in order to comply with the existing regulations set by the Philippine government and the Central Bank of the Philippines. The process takes months or even years before it will be approved for revision to change the final output of any denomination after a series of deliberations by the members of the Central Bank of the Philippines and the Philippine government.
As of today, there are intense clashes between Team Duterte and Team Yellow. Team Duterte have composed mainly the Duterte administration, which is the current dominating political group in the country. Team Yellow is represented by the Liberal Political Party, which is now the opposition group of the current Philippine administration. If Duterte's administration files to amend the appearance of some Philippine Peso Bill, they will expect to be facing obstacles initiated by the team Yellow, which is a classic political challenge today.
So who do you want to appear in 500 Philippine Peso bill, Duterte's face or Aquino couple's faces?
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