Pres. Duterte Leads Launching of New P1,000 Polymer Bills in PH Featuring the Philippine Eagle
NEW P1,000 POLYMER BILLS – New plastic banknotes that feature the Philippine Eagle and are believed to be more hygienic were launched.
One of the things that circulate fast among people in every country are the banknotes or bills. Every nation has its own unique set of banknotes or bills and its circulation is not limited to one country only. In most cases, there are some banknotes that circulate on an international level such as the bills in money exchange centers.
The rapid circulation of banknotes may cause damage to it. In the Philippines, most of its current bills in circulation are made of abaca. However, a few months ago, there was a proposal favoring the use of polymer instead of abaca on bills saying that it is more environment-friendly.
Recently, changes in the banknotes were implemented on some P1,000.00 bills. New P1,000 polymer bills featuring the Philippine Eagle were launched Wednesday night.
Based on a report on ABS-CBN News, the launching of the new P1,000 polymer bills were led by President Rodrigo Roa Duterte, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, and Finance Secretary Carlos Dominguez III.
The new P1,000 banknotes got complex security features that prevent counterfeiting as it makes it more difficult and costly, according to BSP. Based on the report, Diokno also emphasized that the polymer is more cost-effective and hygienic.
In the new P1,000 banknotes, the images of the three (3) World War 2 heroes (Jose Abad Santos, Josefa Llanes Escoda, and Vicente Lim) that are present in the current bills of the same value are replaced with a Philippine Eagle. According to BSP, they did not anymore consult the National Historical Commission about it because the new banknotes have no historical element.
BSP Deputy Gov. Mamerto Tangonan said that they will not stop the circulation of the P1,000 banknotes featuring the three (3) World War 2 heroes. He stressed that they already had the facts vetted by the Department of Environment and National Resources (DENR) on the use of the Philippine eagle.
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