LOOK: BSP launches new P1,000 'plastic' banknote featuring Philippine eagle

Job Manahan, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Screengrab from PCOO video" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/life/04/06/20220406-bsp-launches-banknote.jpg"/><figcaption>President Rodrigo Duterte inspects the newly-launched P1000 polymer banknotes with BSP Governor Benjamin Diokno at Malacañang. <em>Screengrab from PCOO video.</em></figcaption></figure></div><p>MANILA - President Rodrigo Duterte on Wednesday night launched with economic managers the new P1,000 polymer banknote featuring the Philippine eagle in place of three World War 2 heroes, despite earlier criticisms from historians. </p><p>The new plastic banknotes, which the Bangko Sentral ng Pilipinas said are &quot;smarter and stronger,&quot; will be released in phases this month. </p><p>During the event, Duterte inspected the banknote with BSP Governor Benjamin Diokno and Finance Secretary Carlos Dominguez III.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/02/21/new-polymer-p1000-bills-to-start-circulation-mid-2022">New polymer P1,000 bills to start circulation mid-2022: BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/12/11/21/look-bsp-unveils-design-of-p1000-polymer-bill">Bangko Sentral unveils design of new plastic P1,000 bill</a></li></ul><p>&quot;The advanced technology, intricate design, and complex security features make counterfeiting significantly more difficult and costly,&quot; the BSP said. </p><p>Diokno earlier said shifting from abaca-based paper bills to plastic or polymer bills was more environment-friendly, cost-effective, hygienic and more secure from counterfeiting.</p><p>Representatives from the Philippine fiber industry however contested this saying polymer banknotes are expensive to manufacture, not as durable or secure as claimed, and definitely not good for the environment. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/16/21/fiber-industry-authority-warns-vs-bsps-plastic-money-plan">‘Plastic’ money better than ‘paper’ bills? Not really, says PH fiber agency</a></li></ul><p>Historians had also criticized the BSP for removing World War 2 heroes Jose Abad Santos, Vicente Lim and Josefa Llanes Escoda from the new P1,000 paper bill. </p><p>The National Historical Commission of the Philippines said it was not consulted with the new P1,000-bill design. </p><p>BSP Deputy Governor Mamerto Tangonan however said they did not consult historians because no historical element was added to the banknote. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/12/21/corrections-made-on-new-p1000-banknote-bsp">BSP says &#x27;necessary corrections&#x27; made on new P1,000 banknote</a></li></ul><p>&quot;But in this case, there is no historical element that we have put in in the new design, and then we already have the facts vetted by DENR when we reused the eagle,&quot; Tangonan explained. </p><p>&quot;We are not going to cease the current circulation of the P1,000 banknote featuring the images of our three great heroes. So this will continue to get circulated,&quot; said the official. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/spotlight/12/15/21/why-historians-werent-consulted-over-p1k-bill-redesign">BSP: Using eagle on P1,000 bill is for DENR to approve, not history agency</a></li></ul><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1989907" width="100%"></iframe></figure><div class="iwantbar"><em>Video from PCOO</em></div>

The 1000-piso polymer or plastic banknotes feature the Philippine eagle in place of three World War 2 heroes which will remain on the paper-based 1000-piso bill.

LOOK: BSP launches new P1,000 'plastic' banknote featuring Philippine eagle

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LOOK: BSP launches new P1,000 'plastic' banknote featuring Philippine eagle

Job Manahan,

ABS-CBN News

Published Apr 06, 2022 09:19 PM PHT

Read More:

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1000 piso banknote

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