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Manila Bulletin devider Business devider Banking & Finance devider Philippine polymer banknotes recognized internationally for innovation

Philippine polymer banknotes recognized internationally for innovation

Published Jun 3, 2025 10:07 am

The Bangko Sentral ng Pilipinas' (BSP) First Philippine Polymer Banknote Series (FPPBS) has been recognized with the "Best New Banknote or Banknote Series" award for its security features, design, and incorporation of Philippine flora and fauna. 

According to the BSP, the FPPBS received the award from the International Association of Currency Affairs (IACA) during a ceremony held on May 28, 2025, in Bangkok, Thailand.

The IACA lauded the FPPBS for its innovative security features seamlessly integrated into the overall design, ensuring both functionality and aesthetic appeal, the press statement noted. The body added that the captivating overall design, featuring endemic species, enhances the banknotes’ aesthetic appeal and serves as a testament to the Philippines’ rich culture and natural heritage.

BSP Deputy Governor for Payments and Currency Management Mamerto E. Tangonan said, "This recognition affirms our commitment to innovation in currency design, ensuring that our banknotes meet the global standards of security and sustainability."

The BSP first issued the 1000-piso polymer banknote in 2022, followed by the 500-, 100-, and 50-piso denominations in December 2024. These polymer banknotes are currently co-circulating with existing paper banknotes. Polymer banknotes are considered more secure due to advanced anti-counterfeiting features, more environmentally friendly with a lower carbon footprint, cleaner due to their resistance to dirt, moisture, and microbes, and more durable, lasting two to five times longer than paper banknotes.

The 1000-piso polymer banknote had previously received accolades, including the “Best New Banknote” for 2023 from High Security Printing Asia and “Banknote of the Year” for 2022 by the International Banknote Society. Furthermore, the BSP’s communication campaign for the 1000-Piso polymer banknote also won the “Best New Currency Public Engagement Program” from IACA in May 2023. IACA is a non-profit organization that promotes excellence in the cash cycle.

Related Tags

First Philippine Polymer Banknote Series (FPPBS) Best New Banknote or Banknote Series International Association of Currency Affairs (IACA)
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