MANILA - The Bangko Sentral ng Pilipinas said it would release by December new P5 coins with the image of revolutionary leader Andres Bonifacio.

The new coin will be released to coincide with the 120th anniversary of Bonifacio's death and the 154th anniversary of his birth, the central bank said in a statement.

Thursday is a public holiday to mark the birth anniversary of one of the founders of the Katipunan, which fought for the Philippines' independence from Spain in the late 1800s.

"Widely regarded as one of the Philippines’ greatest heroes, Bonifacio was a fearless leader who founded the Katipunan, the secret society that ignited the flames of the revolution which finally led to the declaration of Philippine independence in 1898," the BSP said.

Bonifacio's image is currently on the P10 coin alongside that of fellow Katipunan leader Apolinario Mabini.

The 2 heroes images also appeared on the demonetized P10 bill.