New PH peso bills tagged "one of the world’s best" in international design competition
Late last year, GMA News Online reported that the Philippine pero bills of the New Generation Currency (NGC) series-P20, P50, P100, P200, P500, and P1,000-had several errors. But, apparently, there are those who can overlook those errors.
In December last year, GMA News Online reported that the Philippine pero bills of the New Generation Currency (NGC) series-P20, P50, P100, P200, P500, and P1,000-had several errors. But, apparently, there are those who can overlook those errors.
Inquirer.net reports that the country’s NGC series notes set was one of two finalists for Best New Currencies in the World in a contest backed by the International Association of Currency Affairs (IACA), a worldwide organization of central banks, currency-issuing authorities, currency producers, and suppliers.
According to Inquirer.net, "The contest is aimed at recognizing the best currencies that have been issued within the last 18 months. The currencies were evaluated on the basis of their design, including innovativeness and security features."
Aside from being a finalist, our NGC set was also given a special award for best security features. The new series of peso notes-particularly the P500 and P1,000 notes-was cited for its optically variable device patch. According to the report: "This feature, which counterfeiters would find hard to imitate, is the reflective foil that bears the image of the Bangko Sentral ng Pilipinas (BSP) logo with a parrot in the P500 bill and the South Sea pearl inside a clam in the P1,000 bill."
The winner of the Best Currency Award was the new series of shilling notes from Uganda. The other finalist for best new currencies was the new series of rupee notes from Sri Lanka.