THE introduction of new polymer banknotes is a significant step in reducing counterfeiting risks, the Bangko Sentral ng Pilipinas said.The central bank earlier this month launched 500-, 100-, and 50-piso polymer bills, adding to the 1,000-piso plastic note that was introduced in April 2022.The polymer banknotes carry advanced security features, including clear windows, embossed mirrored denominations and iridescent designs, making counterfeiting exceedingly difficult.
It cited a De La Salle University-Center for Engineering and Sustainable Development Research study that showed that polymer notes had a 38.36-percent lower global warming potential than their paper counterparts.This improvement primarily stems from the extended lifespan of polymer notes, which reduces resource consumption and waste generation over time.These findings were also said to be aligned with research by other central banks in the United Kingdom, Canada and Mexico.
Banknotes Lower Counterfeiting Risks BSP
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