Philippines new peso bills one of two finalists for best new currencies in the world
It was in time for Christmas when Bangko Sentral ng Pilipinas launched the new look of the Philippines peso bills. Designed by Design Systemat and Studio 5, the new peso bills were packed with security features that counterfeiters would find it hard to copy.
The new features of the Philippines peso bills are as follows:
1. Feature Philippine icons like the famous tarsier in Bohol, Taal in Batangas, Banaue Rice Terraces in Ifugao, the Mayon Volcano, to name a few.
2. They have a patch that with a 45 degree angle, colors would change from blue to green and black to blue;
3. Feature the seals of the Republic of the Philippines and the Bangko Sentral ng Pilipinas;
4. They have micro prints and micro threads that makes it difficult for counterfeiters to copy;
5. They have a feature for the vision impaired;
6. They are made up of 80% cotton and 20% abaca;
7. They have anti-bacterial quality that makes higher denominated bills to last for more than 3 years;
However, despite the cited features, the new Philippines peso bills were vilified after they were launched in December last year because of two design errors. The errors cited were the allegedly inaccurately designed Philippine map and the wrong choice of color used for the beak of the blue-naped parrot, a feature in the new P500 peso note.
The release finally paid off.
The set of new Philippine peso notes, called the “New Generation Currency (NGC)” series, was one of the two finalists for best new currencies in the world in a global contest organized by the International Association of Currency Affairs (Iaca). The bills were evaluated based on design, including its innovation and security features.
The Philippines NGC also received a special award for best security features other than landing as one of two finalists. The new series of peso bills was cited for its optically variable device patch, a feature which can be seen in the new P500 and P1,000 bills.