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Bangko Sentral ng Pilipinas launches the P1000 polymer banknote
By Kara Cuesta 07 Apr 2022 848

After years of thorough study, Bangko Sentral ng Pilipinas introduces the new “smarter, cleaner, and stronger” P1000 polymer banknote.

 

This new banknote promotes environmental sustainability, ensures the public well-being and prevents counterfeiting through the help of advanced technology.

With its intricate design and advanced security feature, the new polymer P1000 banknote strengthens the efforts of BSP against counterfeiting compared to the current paper banknotes.

Since it is less susceptible to bacteria and viruses, it is also a cleaner and more hygienic choice and can be sanitized with less risk of damage. Its production requires less water, energy, and other resources, thus, it has a smaller carbon footprint. This can also be recycled in other forms such as furniture and other household products.

BSP said that this polymer banknotes have a longer lifespan and it can last 2.5 to 5 times longer than paper banknotes since it is resistant to water, oil, dirt, and general tear and wear which makes it more cost-effective.

The design of the new polymer banknote features the country’s rich culture, flora and fauna, showcasing the Philippine Eagle – in place of the three World War 2 heroes – symbolizing strength, courage, and love for freedom of the Filipinos. It also features Sampaguita, signifying purity and hope, South Sea Pearl, Tubataha Reefs Natural Park, and T’nalak weave design.

According to BSP, they will release the new P1000 bill in phases starting April 2022 and will coexist with the current paper banknote which can be both used in payment and transactions.



Source: 

Bangko Sentral ng Pilipinas: https://www.bsp.gov.ph/SitePages/MediaAndResearch/MediaDisp.aspx?ItemId=6227 

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