Reception Hall, Malacañan Palace
April 6, 2022
President Rodrigo Roa Duterte received the 50-outs uncut 1000-Piso polymer banknotes from the Bangko Sentral ng Pilipinas (BSP) and Department of Finance (DOF) in a ceremonial presentation of the Philippines’ first polymer banknote held at the Reception Hall in Malacañan Palace.
The new 1000-Piso polymer banknote strengthens the country’s efforts against counterfeiting, response to the current public health and safety concerns due to the Coronavirus Disease 2019 (COVID-19) pandemic, and promotes environmental sustainability as it is smarter, cleaner and stronger compared to the current paper banknotes.
The BSP will release the new polymer banknotes in phases starting in April 2022, with the new 1000-Piso polymer banknote and the current 1000-Piso paper banknote co-existing and can both be used for payments and transactions.
With its advanced technology, intricate design and complex security features, the 1000-Piso polymer banknote makes counterfeiting significantly more difficult and costly due to the following security features – Sampaguita clear window, serial numbers, shadow thread, vertical clear window, metallic features, blue iridescent figure, polymer substrate, tactile dots, embossed prints, flying eagle, and enhanced value panel.
It is also cleaner since viruses and bacteria survive for shorter periods on polymer compared with paper banknotes, plus polymer bills can be sanitized with less risk of damage, making them cleaner and more hygienic. The said banknotes have a smaller carbon footprint as production requires less water, energy and other resources, and these can be recycled into other useful forms such as compost bins, building components, furniture and other household products.
The 1000-Piso polymer banknote is stronger as it can last 2.5 to 5 times longer than paper banknotes given its resistance to water, oil, dirt, and general wear and tear, thereby making it more cost-effective in the long run due to its longer lifespan.
Moreover, the new 1000-Piso polymer banknote features the country’s rich culture, flora and fauna, as it showcases the Philippine Eagle to exemplify the Filipino’s strength, courage and love for freedom; the Sampaguita to symbolize purity and hope; as well as the South Sea Pearl, Tubbataha Reefs Natural Park, and T’nalak Weave Design to celebrate the country’s natural resources and cultural heritage.
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