3 days ago
Philippine polymer bills win 'Best New Banknote Series'
The First Philippine Polymer Banknote Series (FPPBS), launched by the Bangko Sentral ng Pilipinas (BSP) last December, was awarded the 'Best New Banknote or Banknote Series' by non-profit organization International Association of Currency Affairs (IACA).
In its writeup, the IACA cited innovation and uniqueness of security features of the FPPBS, such as the dynamic value panel which shifts its visual effect based on light angle, transparent windows, and shadow threads.
It also cited the aesthetic appeal and overall design of the series, which it described as 'captivating and culturally significant.'
Finalists for the award are the Bank of Jamaica New Series, and the Saka Style Kazakhstani Banknote Series.
The FPPBS — which comes in denominations of P500, P100, and P50 — was officially launched in December 2024, after the P1,000 polymer banknote was released into circulation in 2022.
'This recognition affirms our commitment to innovation in currency design, ensuring that our banknotes meet the global standards of security and sustainability,' BSP deputy governor for payments and currency management Mamerto Tangonan said in a separate statement.
The latest award comes as the P1,000 polymer banknote was awarded 'Banknote of the Year' for 2022 by global non-profit organization International Banknote Society (IBS).
A survey conducted by the BSP last year showed that majority of Filipinos support the polymerization of Philippine banknotes, which it said are 'smarter, cleaner, and more durable.' —AOL, GMA Integrated News
