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BSP releases new banknotes

The Bangko Sentral ng Pilipinas (BSP) has launched enhanced new generation currency (NGC) banknotes with tactile marks to help the elderly and visually impaired as well as featuring the latest anti-counterfeiting technology.

“These banknotes are equipped with the latest anti-counterfeiting technology and embedded with tactile marks that will make it easier for the elderly and persons with disabilities to differentiate each denomination,” BSP Governor Benjamin Diokno said.

The country’s NGC banknote series now in circulation was first issued in December 2010.
“As a matter of practice, central banks regularly change the design and security features of the currency to protect its integrity every 10 years, on average,” Diokno said.

The new banknotes have a distinct security feature through tactile marks that may be touched and felt on the right side, which helps the central bank achieve its mission of bringing BSP closer to Filipinos.

“We added tactile marks to the banknotes specifically intended to help the elderly and visually impaired to quickly identify the value or denomination of the banknote,” Diokno said.

Pairs of short horizontal bands are printed in intaglio or engraved at the extreme right and left sides of the note, according to the BSP.

A P1,000 bill has five pairs of this tactile mark; the P500 has four pairs; the P200, three; the P100, two; and the P50, one.

“Through this distinguishing feature, the elderly and the visually impaired will be more confident in using the banknotes for their transactions, paving the way for financial inclusion,” Diokno said.

A roller bar effect on the value panels and color shifting in the optically variable ink were also added to strengthen the security features of the P500 and P1,000 bills.

“These features will make the higher denominations more difficult to counterfeit,” the BSP chief said.

The improvements highlight the country’s rich culture by featuring indigenous Filipino weaves on the windowed security thread of the P100, P200, P500 and P1,000 banknotes.

The central bank clarified, that the NGC banknotes without the enhanced features would remain legal tender and shall co-exist with the enhanced banknotes.

Diokno said the BSP would continue to print the P200 that addresses the gap between the P100 and P500, while the P20 banknote would continue to be printed until the inventory for raw materials are totally used up.

Source: Philstar

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