Mindanaotoday.com | BSP Ozamiz branch introduces new 1,000-peso polymer banknote
By: Shaine Mae Nagtalon
OZAMIZ CITY – The Bangko Sentral ng Pilipinas (BSP) Ozamiz Branch introduced the newly issued 1000-peso polymer banknote as smarter, cleaner, and stronger than the current paper banknote in a media briefing June 2.
The new banknote strengthens the BSPs effort to respond to pressing public health and safety concerns due to Covid-19 pandemic, promote environmental sustainability, and defer counterfeiting.
Polymer banknotes make counterfeiting significantly more difficult and costly with more intricate designs and stronger security measures.
The design of the 1000-peso polymer banknote features the Philippine Eagle and the Sampaguita on the obverse side; and the Tubbataha Reefs Natural Park, South Sea Pearl, and T’nalak weave design on the reverse side.
BSP Ozamiz Branch Acting Deputy Director Mary Ann Dionson shared that the new 1000-peso polymer banknote was launched on April 6 and initially released to circulation in the National Capital Region and few in the locality.
“If the BSP’s timeline will go as planned, the bulk of this banknote will be released by November, this year,” she said.
The BSP periodically updates the material, design, and security features of the banknotes to ensure that they promote public well-being, durable enough for longer-term use and incorporate the latest technology to prevent counterfeiting. (SMRN | PIA-10 | Misamis Occidental)
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