The First Philippine Polymer Banknote Series: Why the Carabao Was Left Out

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The Bangko Sentral ng Pilipinas (BSP) has introduced the First Philippine Polymer Banknote Series, a bold move that highlights the country’s biodiversity while modernizing its currency. By replacing historical figures with images of endemic and endangered species, the BSP aims to raise awareness of the need for conservation. However, the absence of the carabao—long regarded as the national animal—has sparked discussions on its exclusion from this significant change.

A New Face for Philippine Currency: Endemic Wildlife

Unlike the previous banknotes featuring national heroes, the new polymer series showcases unique Philippine wildlife, all of which are exclusively found in the country:

• ₱1,000 Bill: Philippine eagle (Pithecophaga jefferyi)—one of the rarest and most powerful eagles in the world, symbolizing strength and resilience. The reverse showcases the Tubbataha Reefs Natural Park and the South Sea pearl, emphasizing marine conservation.

• ₱500 Bill: Visayan spotted deer (Rusa alfredi)—one of the most endangered deer species globally, found only in the Visayan islands. The back features the Puerto Princesa Subterranean River National Park and the blue-naped parrot.

• ₱100 Bill: Palawan peacock-pheasant (Polyplectron napoleonis)—a stunning bird with iridescent blue-green plumage, native to Palawan. Its reverse side showcases the Mayon Volcano and the whale shark, reinforcing the country’s natural wonders.

• ₱50 Bill: Visayan leopard cat (Prionailurus bengalensis rabori)—a rare and elusive feline species endemic to the Visayas. The reverse highlights Taal Lake and the maliputo fish, both vital to local ecosystems.

These choices reflect the BSP’s commitment to sustainability and education, making each bill more than just currency—it’s a statement on the nation’s responsibility to protect its wildlife.

Why the Carabao Wasn't Included

While the carabao is a symbol of Philippine agriculture and hard work, it was left out of the new banknotes due to one key reason: it is not endemic to the Philippines. Scientific studies and historical records indicate that the carabao was brought to the archipelago by Malay settlers around 300 to 400 BCE. DNA analyses show that it is closely related to Chinese swamp buffaloes, confirming that it is not a native species.

The BSP’s decision to focus on truly endemic and endangered species aligns with the core theme of the new banknotes—preserving what is uniquely Filipino. While the carabao remains an important part of the country’s culture, it does not fit the series' intended purpose of showcasing the country’s unique biodiversity.

The Debate: Modernization vs. Tradition

Beyond the absence of the carabao, the transition to polymer banknotes has sparked wider debates. Some critics argue that replacing national heroes with animals diminishes the historical significance of the currency. Others believe that while raising awareness is important, conservation efforts require more than just a symbolic redesign.

Economic concerns have also been raised regarding the shift from traditional abaca-based banknotes to polymer. The Philippines is one of the world’s top producers of abaca, and the move to polymer could negatively impact local industries reliant on abaca fiber production. Environmental groups question the long-term ecological footprint of polymer notes, despite BSP’s claims of durability and sustainability.

One of the most vocal critics, Luanne Mae Manreal, expressed her concerns: "Awareness is not enough without laws and enforcement. Changing the notes to feature endangered animals is just part of rewriting history. Meanwhile, the shift to polymer is killing our own abaca industry."

Is the Future Polymer?

Despite the controversies, the BSP maintains that polymer banknotes offer numerous advantages, including increased durability, enhanced security features, and reduced counterfeiting risks. The notes are expected to last 2.5 times longer than paper bills, potentially lowering production costs in the long run. Additionally, the BSP clarified that there will be no ₱200 polymer note due to its low circulation.

While the BSP assures that the transition will be gradual, many are calling for a balanced approach—one that preserves national identity, supports local industries, and prioritizes sustainability.

A New Era for Philippine Currency

The First Philippine Polymer Banknote Series represents a shift in how the country’s identity is portrayed through currency. Whether the changes will stand the test of time or be reversed by future administrations remains to be seen. For now, these banknotes serve as a conversation starter—challenging Filipinos to rethink what symbols best represent their nation and how to balance progress with tradition.

Will polymer banknotes and endemic wildlife remain the face of Philippine currency? Or will future leaders restore the legacy of historical figures and traditional materials? Only time will tell.

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