Home The Philippines’ New Php1000 Polymer Note Wins the International Banknote of the Year Award for 2022

The Philippines’ New Php1000 Polymer Note Wins the International Banknote of the Year Award for 2022

philippines php 1000 banknote wins international banknote of the year 2022

MANILA, PHILIPPINES — The controversial Php 1,000 banknote of the Philippines has won the Bank Note of the Year award for 2022, according to the International Bank Note Society (IBNS). 

The upgraded Php 1,000 paper bill, which features the Philippine Eagle on the front and Tubbataha Reefs Natural Park at the back, was chosen as the “overwhelming favorite” among 19 newly printed counterparts from other countries.

IBNS is a non-profit organization dedicated to the study of paper currencies and banknotes around the world, with 2,000 members. The Banknote of the Year Award is an initiative of the IBNS to recognize the most “extraordinary banknotes” printed each year.

“The International Bank Note Society (IBNS) announced that its voting membership has for the first time elected the Central Bank of the Philippines to receive the annual prestigious’ Bank Note of the Year Award’ for 2022,” read a statement on the IBNS website.

The organization appreciated the blue color and “environmental motif” of the Philippine banknote and specifically noted its successful design, which links an endangered species environmentally. The Php 1,000 peso is similar in width but slightly longer than the US greenback.

The following are the runners-up of the award:

  • Northern Ireland (Ulster Bank) £50 bill – includes flora, fauna, workers
  • Scotland’s (Bank of Scotland) £100 note – depicts Sir Walter Scott and Dr Flora Murray
  • Algerian 2,000 dinars – Martyr’s Memorial with minaret
  • Barbados $50 – former Prime Minister Errol Barrow
  • Egyptian pound 10 – pyramid and mosque with ancient queen

“These new pieces of paper money are also made of polymeric materials, thus replacing those made of cotton and abaca. They also have enhanced security features to reduce counterfeiting. The P1,000 versions with the faces of Santos, Lim, and Escoda are still being printed and used in circulation,” the IBNS said

The Php 1,000 polymer paper money has been in hot water since it was unveiled by the Bangko Sentral ng Pilipinas (BSP) on April 2022. The image of the Philippine eagle in place of three Filipino heroes initially drew criticism. – WhatALife!/Jayve

Sources: (1)(2)

Also read: HOW TO: Care for 1,000-peso Polymer Banknote as advised by BSP

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