The Bangko Sentral ng Pilipinas’ (BSP) First Philippine Polymer Banknote Series (FPPBS) received the “Best New Banknote or Banknote Series” award from the International Association of Currency Affairs (IACA) during a ceremony in Bangkok, Thailand on 28 May 2025.
The award-giving body lauded the FPPBS’ security features, overall design, and use of local elements, particularly flora and fauna endemic to the Philippines, the BSP said in a news release.
According to IACA, “The FPPBS introduces innovative features that redefine currency security in the Philippines. These advanced security features are seamlessly integrated into the overall design, ensuring both functionality and aesthetic appeal. These elements create a robust and secure currency system.”
IACA added, “The overall design of the Philippine polymer banknotes is captivating.” The featured species enhance “the banknotes’ aesthetic appeal” and serve as a testament to the “Philippines’ rich culture and natural heritage.”
“This recognition affirms our commitment to innovation in currency design, ensuring that our banknotes meet the global standards of security and sustainability,” said BSP Deputy Governor for Payments and Currency Management Mamerto E. Tangonan.
The BSP first issued the 1000-piso polymer banknote in 2022, followed by the release of the 500-, 100-, and 50-piso denominations in December 2024. The FPPBS is co-circulating with existing paper banknotes.
Polymer banknotes are considered smarter due to their more advanced security features against counterfeiting and lower carbon footprint; cleaner as they are more resistant to dirt, moisture, and microbes; and stronger as they have a lifespan two to five times longer than that of paper banknotes.
The 1000-piso polymer banknote was also named “Best New Banknote” for 2023 by High Security Printing™ Asia and “Banknote of the Year” for 2022 by the International Banknote Society.
Moreover, the BSP’s communication campaign for the 1000-Piso polymer banknote bagged the “Best New Currency Public Engagement Program” from IACA in May 2023.
IACA is an independent non-profit organization1 that promotes excellence in the cash cycle and serves as a platform for knowledge sharing and collaboration among its members on matters of strategic importance.
