The Philippine twenty-peso note, beinte pesos ) is a denomination of Philippine currency. It is the smallest denomination in general circulation in the Philippines. Philippine president Manuel L. Quezon is currently featured on the front side of the note, while the Banaue Rice Terraces and the palm civet is featured on the reverse side.
1917-1936: PNB issued notes, features congressman William A. Jones on the obverse.
1937: Philippine Commonwealth issued treasury certificate. Features an image of the Mayon Volcano. This series were later overprinted with the word "VICTORY" on the reverse after the liberation of the Philippines under Japanese rule in 1944.
Independence
Quezon first appeared on the twenty peso bill upon the release of the Pilipino series notes in 1967.
In 1967, Manuel L. Quezon replaced the portraits of Bonifacio and Jacinto. The note is now predominantly orange in color. On the reverse, it now features the Malacañan Palace. The design of the obverse was later revised, the font for the text Republika ng Pilipinas and Dalawampung Piso was changed, the color of the portrait of Quezon was changed from brown to orange and geometric lines were added on the sides and the watermark area of the note. This design was later used when the Ang Bagong Lipunan series was released in 1973.
Ang Bagong Lipunan series (1973–1985)
In 1973, the "Ang Bagong Lipunan" text was added and was overprinted on the watermark area.
In 1986, the note was completely redesigned and new elements regarding Quezon's accomplishments were added on the right side, namely the establishment of Tagalog as the Philippine national language, the coat-of-arms of the Commonwealth and the approval of the 1935 Constitution. The Malacañang Palace picture at the reverse was updated to reflect the renovations to the building itself. After the creation of the "Bangko Sentral ng Pilipinas" in 1993, its new logo was incorporated on all the New Design series bills. In 1998, the year of printing was added at the bottom of the denomination value located at the upper left corner of the obverse. The names of the signatories on the bills were later added starting with banknotes featuring the signature of President Joseph Estrada.
New Generation series (2010–2019)
In 2010, the portrait of Manuel L. Quezon was revised, the Malacañang Palace was moved from the reverse to the bottom center of the obverse. The reverse now features the Banaue Rice Terraces and the palm civet. In 2017, an updated version of the New Generation series 20 piso banknote was issued with changes in the font size of the year of issue and the italicization of the scientific name on the reverse side. In 2019, the 20 peso note will be changed into a coin that will be released in the first quarter of 2020 to solve the overuse of this banknote, as it only takes a year or less to replace it with a new banknote based on a research by the University of the Philippines. The Bangko Sentral ng Pilipinas states that the new 20 peso coin lasts for 10 to 15 years, longer than a 20 peso banknote.
Commemorative issues
Throughout its existence, the twenty peso bill has often been overprinted to commemorate certain events, namely:
International Year of Microcredit commemorative bill - On November 1, 2004, as part of the world launching of the United Nations Year of Microcredit in 2005, the Bangko Sentral ng Pilipinas issued 10 million pieces of the 20 peso bill with an overprint of the official logo and the phrase "Sustainable Microfinance Services for the Filipino Entrepreneurial Poor" on the bottom. The version with the signature of Amando M. Tetangco, Jr. was released in 2005.
60 years of Central Banking commemorative bill - On July 9, 2009, the Bangko Sentral ng Pilipinas introduced 12 million banknotes with an overprint commemorating 60 years of central banking. The overprint appears on the watermark area on all six circulating denominations.
