The Bangko Sentral ng Pilipinas awarded contracts totaling almost P5 billion for new polymer or plastic banknotes, according to the Commission on Audit (COA). The COA's annual report states that the BSP approved five supply contracts worth around P4.9 billion for new P50, P100, P500, and P1,000 banknotes. The first contract, worth P269.524 million or 4.
497 million euros, was awarded to De La Rue International Limited, chosen as the “lowest calculated responsive bidder” for the supply and delivery of 150,000 bundles of P50 enhanced generation currency outsourced finished banknotes. In September 2023, a contract amounting to P727.475 million or 11.751 million euros was awarded to Giesecke+Devrient Currency Technology for the supply and delivery of 200,000 bundles of P500 enhanced banknotes, featuring “enhanced security features and tactile marks.” Meanwhile, in October 2023, a contract was awarded to Papierfabrik Louisenthal GmbH for the supply and delivery of 75,200 reams of P100 enhanced banknotes, totaling P2.605 billion or 42.431 million euros. The same company was awarded a contract worth P1.113 billion or 18.542 million euros in November 2023 for the supply and delivery of 51,020 reams of P50 enhanced banknotes. In December 2023, Surys for One Lot was awarded a contract for the supply and delivery of 3,040 rolls of P1,000 enhanced banknotes for P269.028 million or 4.432 million euros. The August Twenty-One Movement (ATOM) previously voiced disapproval of the decision to replace images of Philippine heroes with local wildlife, raising concerns about omitting significant historical figures from banknotes. The polymer banknotes feature the following designs: P1,000: Philippine Eagle and Sampaguita flower (released in April 2022), P500: Visayan Spotted Deer and Acanthephippium mantinianum, P100: Palawan Peacock-Pheasant and Ceratocentron fesselii, P50: Visayan Leopard Cat and Vidal’s lanutan
BANKNOTES ECONOMY PHILIPPINES BSP POLYMERCURRENCY
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