MANILA – The Banko Sentral ng Pilipinas (BSP) cited studies showing that the newly-released polymer banknotes are more effective in preventing counterfeits.
It also asserted that the latest designs of the polymer bills are “smarter, cleaner and stronger.”
The BSP was defending its decisions after the fresh polymer banknotes met backlash from the public, who questioned why portraits of national heroes from the old designs were removed.
According to the BSP, its study found that the redesigned P1,000-bill in April 2022 incorporated advanced security features that reduce the risk of counterfeiting. It likewise said that only 10 counterfeits were discovered out of the 825.4 million polymer money in circulation from 2022 to November 2024, still citing the same study.
