In an effort to keep up to date with anti-counterfeiting technology and increasingly high-tech security features on banknotes around the world, the Bankgko Sentral ng Pilipinas (BSP) in the Phillipines announced this week that it will launch a new series of banknotes in December 2010.
“We want to take advantage of these technologies,” BSP Monetary Stability sector Deputy Governor Diwa Guinigundo told the Phil Star.
As a result, the new generation notes (the Piso) – issued in the P20, P50, P100, P200, P500, and P1,000 denominations – will contain heightened security features that aim not only to deter counterfeiting but also help make it easier for the public to detect fraudulent bills among their currency.
“As a matter of practice, central bans regularly change the designs of the money – whether coins or banknotes – to guard against counterfeiters,” another BSP source said. “By making it very difficult and costly for counterfeiters to produce exact copies of our money, we protect the integrity of our currency against criminals.”
Currently, the Piso banknotes contain standard security features such as security threads, security fibres, watermarks, invisible fluorescent inks, optically variable ink, microprint, moiré pattern and an iridescent band.
Other banknotes around the world have been outfitted with some of the most modern security devices known in the banknote industry recently. The new American $100 bill, for example, contains 3D holographs. Other up-and-coming anti-counterfeit devices include quantum dots (nanoscale dots that emit intense light), pixelating watermarks (photos that appear to be 3D because of the way the shades are printed), the reproduction of intricate patterns akin to butterfly scales, and see-through windows rooted between the layers of a polymer banknote.
Though the BSP hasn’t said which new features will be embedded in the notes, the central bank has said they will undertake a nationwide information campaign to educate Filipinos on the new features and help them learn how to tell genuine banknotes from counterfeits.
In terms of design, the new banknotes will pay tribute to Filipinos who played significant roles at various moments of the nation’s history and will also feature world heritage sites and iconic natural wonders of the Philippines.
The BSP also has plans to issue a new series of coins which aren’t expected to be circulated until 2012.
The current Piso series, which includes both coins and banknotes, hasn’t received a re-vamp in nearly 30 years.
PhilStar.com: “BSP To Redesign Banknotes and Coins”
PhilStar.com: “BSP to Release 1st Batch of New Banknotes In December”
Philippine Coins and Banknotes: “FAQs: BSP Banknote and Coin Resdesign”
Bankgko Sentral ng Pilipinas: “BSP Notes & Coins”