Recently the Bangko Sentral ng Pilipinas (BSP) unveiled the newest polymer bank notes which were described as crisp and capable of withstanding tough conditions, according to a news feature by the Manila Bulletin.
To put things in perspective, posted below is an excerpt from the article of the Manila Bulletin. Some parts in boldface…
The familiar crinkle of a crisp paper bill, the faded ink from countless transactions, the subtle tear at the edge – these are the hallmarks of the Philippine piso as many know it. But come January, Filipinos will begin to experience a currency revolution.
The Bangko Sentral ng Pilipinas (BSP) is ushering in a new era with the first series of polymer banknotes, a move that signifies more than just a change in material. It’s a leap towards a more secure, sustainable, and hygienic future for the nation’s currency.
Imagine pulling out a banknote that feels smoother, almost plastic-like, and noticing intricate details that shimmer under the light. This is the promise of the new polymer piso.
These banknotes, designed to last longer and withstand the rigors of daily use, are imbued with advanced security features that make counterfeiting a near impossibility. Microprinting, tactile elements, and clear windows are just some of the technologies embedded within these notes, providing a robust defense against fraudulent activities and bolstering public confidence in the currency.
“We have the mandate of issuing the currency, and we always try to look for ways to improve our currency,” explains BSP Assistant Governor Mary Anne Lim. “In improving our currency, we consider the needs of our users in utilizing it, and also advances in technology when it comes to printing and using our banknotes.”
The shift to polymer addresses a critical concern in today’s world: hygiene. Paper banknotes, passing through countless hands, can harbor bacteria and viruses. Polymer notes, on the other hand, are less hospitable to these pathogens.
Their non-porous surface makes it harder for microbes to cling and survive, contributing to a healthier and safer transaction experience in a post-pandemic world.
But the BSP’s vision goes beyond practicality. The new banknotes are also an opportunity to celebrate the Philippines’ rich biodiversity and cultural heritage.
Each denomination features a carefully chosen endangered species, a poignant reminder of the country’s unique natural treasures and the need for their conservation.
The 1,000-piso note, already in circulation since April 2022, showcases the majestic Philippine eagle soaring above the Tubbataha Reefs Natural Park, a UNESCO World Heritage Site.
The 500-piso note features the elusive Visayan spotted deer amidst the lush greenery of the Puerto Princesa Subterranean River National Park.
The 100-piso note highlights the vibrant Palawan peacock-pheasant against the backdrop of the iconic Mayon Volcano, while the 50-piso note presents the playful Visayan leopard cat with the serene Taal Lake in the background.
These visuals are complemented by intricate designs inspired by traditional weaving patterns, showcasing the artistry and craftsmanship of different Filipino communities. The banknotes, therefore, become more than just a medium of exchange; they transform into miniature canvases that tell a story of the Philippines’ natural wonders and cultural heritage.
“The polymer series raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride,” shares BSP Governor Eli M. Remolona, Jr., highlighting the inspiration and symbolism behind the chosen themes
The environmental impact of currency production is another crucial factor considered by the BSP.
Polymer banknotes, with their longer lifespan, reduce the need for frequent replacements. This translates to less paper consumption, lower energy use in production, and a smaller carbon footprint. The BSP’s commitment to sustainability is evident in this conscious choice of material, aligning with the global push towards eco-friendly practices.
The transition to polymer banknotes is a milestone in the Philippines’ journey towards modernization. It’s a testament to the BSP’s proactive approach to currency management, ensuring that the Philippine piso remains secure, resilient, and relevant in a rapidly changing world.
Let me end this post by asking you readers: What is your reaction to this recent development? Are you receptive towards the newest polymer bank notes from the BSP? What do you think of the new P500, P100 and P50 bills? Do you have a problem about the new bills not showing historical people of the Philippines?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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