If you’ve been doing mostly online transactions during the community quarantine, don’t be surprised if you get your hands on peso bills that sport a new look. No, it’s not fake money — the Bangko Sentral ng Pilipinas (BSP) launched enhanced new generation currency banknotes in July 2020 that have additional tactile marks for the elderly and visually impaired, plus improved security features.
“These banknotes are equipped with the latest anti-counterfeiting technology and embedded with tactile marks that will make it easier for the elderly and persons with disabilities to differentiate each denomination,” BSP Governor Benjamin Diokno said in a report by Philstar.
The security feature is seen through tactile marks that can be touched and felt on the right of the bill. There are also pairs of short horizontal bands located on the left and right sides of the note: the P1,000 bill has five pairs, the P500 bill has four pairs, the P200 bill has three pairs, the P100 bill has two pairs, and the P50 bill has one pair.
Included in the new look are rolling bar effects on the value panels of the P1,000 and P500 bills and enhanced colors on other value panels, which make it easier to see the amount, plus security threads that feature an indigenous weave design.
“Through this distinguishing feature, the elderly and the visually impaired will be more confident n using the banknotes for their transactions, paying the way for financial inclusion,” Diokno said. He adds that the different features will also make higher denominations more difficult to counterfeit.
What about the current banknotes that were issued starting in 2010? Don’t fret — the BSP assures the public that it will remain legal tender and will co-exist with the enhanced banknotes. They would also continue to print the P200 bills, while the P20 bill will be printed until the inventory for raw materials are used up.