THE Bangko Sentral ng Pilipinas’ (BSP) First Philippine Polymer Banknote Series (FPPBS) was awarded “Best New Banknote or Banknote Series” by the International Association of Currency Affairs (Iaca) during a ceremony held on Tuesday, June 3, 2025, in Bangkok, Thailand, the central bank said in a statement.
The award recognizes the FPPBS for its advanced security features, integrated design and use of native Philippine flora and fauna. The Iaca praised the notes for their innovative approach to currency security and aesthetics.
“The FPPBS introduces innovative features that redefine currency security in the Philippines,” Iaca said in a statement. “These advanced security features are seamlessly integrated into the overall design, ensuring both functionality and aesthetic appeal.”
The BSP began issuing the polymer series in 2022 with the launch of the P1,000 denomination. Lower denominations of P500, P100 and P50 followed in December 2024. The polymer notes are currently in co-circulation with existing paper banknotes.
“This recognition affirms our commitment to innovation in currency design, ensuring that our banknotes meet the global standards of security and sustainability,” said Mamerto Tangonan, BSP deputy governor for Payments and Currency Management.
Polymer banknotes are considered more secure and environmentally sustainable than paper notes. They feature enhanced resistance to counterfeiting, a lower carbon footprint and improved durability — lasting two to five times longer than traditional currency.
The FPPBS has received multiple international accolades. The P1,000 polymer note was named “Best New Banknote” in 2023 by High Security Printing™ Asia and “Banknote of the Year” in 2022 by the International Banknote Society. The BSP also earned Iaca’s “Best New Currency Public Engagement Program” award in 2023 for its communication campaign on the P1,000 note.
Iaca is a global non-profit organization that promotes excellence in the cash cycle and serves as a knowledge-sharing platform for currency industry stakeholders. / KOC
