The country's bank notes got another makeover to ward off counterfeiters. The new design bills, launched on Wednesday were also designed for easier use by the elderly and the visually impaired, the Bangko Sentral ng Pilipinas said.
The central bank regularly updates bills and coins to add security features or to mark historical milestones. They are also updated to reflect the signatures of the incumbent president and BSP governor.
“To further promote inclusivity and integrity in our currency, the BSP also took an opportunity to further improve our banknotes as part of global best practices and, at the same time, improve on its design and security features,” BSP Gov. Benjamin Diokno said.
Enhanced security thread
The new P100, P200, P500, and P1,000 bank notes sport an enhanced security thread which runs vertically across the note. It shows a movement in design and change in color when viewed from different angles.
These threads were inspired by an indigenous weave design and carry the value of the note along with “BSP” in text in a repeating pattern.
The P1,000 bill has a wider thread, measuring 5 millimeters. The other notes maintained the original width of 4 millimeters.
Optically variable ink
The P1,000 bank note features an embossed “1,000” at the lower right corner of the face which changes from green to magenta depending on the angle.
The P500 note meanwhile bears a seal resembling the Philippine flag, which shifts from gold to green depending on the angle.
Each of the new bank notes now has horizontal lines printed at the extreme left and right sides of the note. The P1,000 bill has 5 pairs, the P500 bill has 4 pairs, the P200 bill has 3 pairs, the P100 bill has 2 pairs, and the P50 bill has 1 pair.
These are slightly embossed and help visually-impaired individuals tell the notes apart.
Enhanced value panel
The value panel at the upper left portion of both the P1,000 and P500 banknotes got an upgrade. It now has a rolling bar effect which can be seen when the note is tilted from left to right. Compared to the other bills, the printed values on the P1,000 and P500 are thicker.
Diokno said the enhanced NGC banknotes are only slightly more expensive than the previous NGC notes. "We estimate there's an average increase of 1% in the cost of production," he said.
The new banknotes will coexist with the NGC notes currently in circulation, which will eventually be removed through natural attrition, the BSP said.