In a bid to strengthen financial security and to empower its employees, the Department of Environment and Natural Resources (DENR) Bicol in partnership with the Bangko Sentral ng Pilipinas (BSP) introduced the new polymer banknotes for the ₱1,000, ₱500, ₱100, and ₱50 denominations to the DENR Bicol employees during the Monday Convocation, today, February 3, 2025 at the DENR Regional Office 5, Rawis, Legazpi City.
The First Philippine Polymer (FPP) Banknote Series is designed to be smarter, cleaner, and stronger than traditional paper bills.
In her message, BSP South Luzon Regional Office Bank Officer IV Paulette Gay S. Menguilla emphasized the importance of the new polymer banknotes. “These new notes have better security features to prevent counterfeiting, are more resistant to dirt and bacteria, and last much longer than paper money. The BSP adopted polymer banknotes after studies showed they are more durable, cost-effective in the long run, and environmentally friendly,” she said.
Many countries, including Canada, Australia, and Malaysia, have successfully transitioned to polymer banknotes, reducing counterfeiting cases and improving money circulation. The Philippines is now following this global trend to modernize its currency system and improve financial security and stability.
The polymer banknotes also highlight the country’s rich biodiversity and cultural heritage, featuring vulnerable and endangered flora and fauna species including ethnic weave designs. The BSP is hopeful that through polymer banknotes Filipinos are one step forward in making Philippine currency more sustainable and future-ready.
Source: DENR Bicol