BSP Polymer Banknotes Win Global Design Award

The Bangko Sentral ng Pilipinas (BSP) has won international recognition for its First Philippine Polymer Banknote Series (FPPBS), earning the “Best New Banknote or Banknote Series” award from the International Association of Currency Affairs (IACA).

The award was announced during IACA’s ceremony held in Bangkok, Thailand, on May 28, 2025.

IACA praised the FPPBS for its enhanced security features, design excellence, and incorporation of local natural and cultural elements.

“The FPPBS introduces innovative features that redefine currency security in the Philippines,” IACA stated.

“These advanced security features are seamlessly integrated into the overall design, ensuring both functionality and aesthetic appeal,” the organization added.

IACA also commended the banknotes’ visual appeal and celebration of Philippine biodiversity.

“The overall design of the Philippine polymer banknotes is captivating,” IACA noted, highlighting the role of endemic flora and fauna in showcasing the country’s 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 launched its transition to polymer currency in 2022 with the 1000-piso note and expanded the series in December 2024 to include PHP500, PHP100, and PHP50 denominations.

The polymer banknotes are co-circulating with existing paper bills and are being adopted gradually to modernize the Philippine currency system.

Polymer currency is valued for its superior durability, longer lifespan, and environmental benefits compared to traditional paper banknotes.

According to the BSP, polymer notes last two to five times longer, are more resistant to dirt and moisture, and are equipped with advanced security features to prevent counterfeiting.

They also contribute to public hygiene by being less likely to retain pathogens and easier to sanitize.

The 1000-piso polymer banknote has previously received multiple accolades, including “Best New Banknote” for 2023 from High Security Printing™ Asia and “Banknote of the Year” for 2022 from the International Banknote Society.

In May 2023, the BSP’s public education campaign for the polymer PHP1000 note was recognized with the “Best New Currency Public Engagement Program” by IACA.

IACA is an independent, non-profit industry body that promotes excellence in banknote production, cash cycle innovation, and global best practices among currency stakeholders.