Bangko Sentral ng Pilipinas – Central Bank of the Philippines

The Central Bank of the Republic of the Philippines is locally known as Bangko Sentral ng Pilipinas or BSP. The bank was instituted in July 3, 1993 in conformance to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The original Central Bank of the Philippines, which was founded in January 3, 1949, was succeeded by BSP as the Philippines’ central monetary authority. The Bangko Sentral ng Pilipinas enjoys fiscal and administrative autonomy from the National Government in the pursuit of its designated responsibilities.

The main office of the Bangko Sentral ng Pilipinas is situated in Pasay, Metro Manila. It is currently governed by Amando M. Tetangco, Jr. and has a reserve of 2.23 Trillion Pesos. The base borrowing rate is at 7.5 percent and the base deposit rate is at 9.75 percent.

The Central Bank Complex is depicted in the 100-peso bill, considered to be one of the essential elements of the country and is obviously one of the most secured banks.

Bangko Sentral ng Pilipinas

Philippines 100 Peso Bill

New Philippine Bills

New Philippine Peso Bills by Bangko Sentral ng Pilipinas

In December 16, 2010, President Benigno “Noynoy” Aquino together with Bangko Sentral ng Pilipinas released the new Philippine Bills. All six denominations — P20, P50, P100, P200, P500, and P1,000 — have new designs and security features. Below are the new designs:

P20 bill
Obverse: Manuel L. Quezon
Reverse: Banaue Rice Terraces and a palm civet from the Cordilleras, which are famous for producing the coffee alamid

P50 bill
Obverse: Sergio Osmeña
Reverse: Taal Lake and the Giant Trevally (locally known as Maliputo), a delicious milky fish which thrives only in the waters of the lake

P100 bill
Obverse: Manuel A. Roxas
Reverse: Mayon Volcano and “butanding” or whale shark, the world’s largest living fish which is the main attraction of Donsol, Sorsogon

P200 bill
Obverse: Diosdado Macapagal
Reverse: Chocolate Hills and the Philippine tarsier, one of the world’s smallest primates

P500 bill
Obverse: Corazon Aquino and Benigno “Ninoy” Aquino Jr.
Reverse: Puerto Princesa Subterranean River National Park and the blue-naped parrot, which thrives in the forests of Palawan and Mindoro

P1,000 bill
Obverse: Josefa Llanes Escoda, Vicente P. Lim, and Jose Abad Santos
Reverse: Tubbataha Reef Marine Park and the South Sea Pearl, which is produced by oysters that thrive in the South Seas which the Sulu Sea is a part of

President Aquino showcasing the new bills

Headquarters

The Bangko Sentral ng Pilipinas Main Complex houses the offices of the Governor, the Monetary Board and the different operating departments/offices. The Complex has several buildings, namely: 5-Storey building, Multi-storey building, the EDPC building and the BSP Money Museum, which showcases the Bank’s collection of currencies.

BSP Headquarters

Security Plant Complex

The Security Plant Complex (SPC), located in Quezon City, was formally established in September 7, 1978 to safeguard the printing/minting/refining, issuance, distribution and durability of coins, banknotes, gold bars, government official receipts, lottery tickets, internal revenue stamps, passports, seaman identification record books, strip stamps, official documents, registration certificates, Torrens titles, treasury warrants, stocks and bonds, government contracts, ration coupons, official ballots, election return forms, checks and other security printing or minting jobs of the Philippine government. Later on, printing of official ballots and other public documents were transferred to the National Printing Office (NPO) pursuant to Executive Order No. 285 issued on July 25, 1987. In August 4, 2003, President Gloria Macapagal-Arroyo issued Administrative Order No. 79, it designates the SPC to be sole manufacturer of presidential medals and decorations.

Regional Offices and Branches

The Bangko Sentral ng Pilipinas has three regional offices performing cash operations, cash administration, loans and rediscounting, bank supervision and gold buying operations. These regional offices are located in La Union, Cebu City and Davao City.

There are also 18 BSP branches situated in Batac (Ilocos Norte), Tuguegarao City (Cagayan), Dagupan City (Pangasinan), Cabanatuan City (Nueva Ecija), Angeles City (Pampanga), Lucena City (Quezon), Naga City (Camarines Sur), Legazpi City (Albay), Dumaguete City (Negros Oriental), Bacolod City (Negros Occidental), Iloilo City (Iloilo), Kalibo (Aklan), Tacloban City (Leyte), Cagayan de Oro City (Misamis Oriental), Ozamiz City (Misamis Occidental), Cotabato City, General Santos City (South Cotabato) and Zamboanga City (Zamboanga del Sur). They perform cash operations, cash administration, and in certain areas, gold buying operations.

Location and Proximity

The Headquarters of Bangko Sentral ng Pilipinas is located along A. Mabini St. but visible and can be accessed through Roxas Boulevard about 2.5 kilometers southeast of Kilometer Zero.

It is about 600 meters northeast of Star City Philippines and Aliw Theater and about 500 meters east of Manila Yatch Club.

Contact Information

For more information about the Central Bank of the Philippines you may visit the main office at 1004 Pasay City, Metro Manila, Philippines or call them at telephone number +63 32 524-7011. You may also visit the bank’s official website at http://www.bsp.gov.ph/ for more information about exchange rates, loans, policies, etc.

About the author

Mark Anthony Maranga is an Educator-Parent to his 3 Homeschooling Kids. He sells Ice Cream and Balloons in Mandaue City, Cebu. Exploring the Philippines tourist attractions together with his family is his passion; they are learning without borders.