The Philippines’ 1000-Piso polymer banknote won the International Banknote Society’s (IBNS) “Banknote of the Year Award” for 2022, besting other banknote finalists from Algeria, Barbados, Egypt, Scotland, and Northern Ireland.
The IBNS Banknote of the Year award is an initiative of the IBNS to recognize an exceptional banknote issued each year and the Bangko Sentral ng Pilipinas (BSP)’s 1000-Piso polymer is the first Philippine banknote to win the award.
The Philippine Eagle, one of the rarest and most powerful birds of prey in the world, is featured on the new 1000-Piso polymer banknote to highlight the importance of the preservation of this endangered species.
The Philippines Central Bank “Oscar-winning banknote” was printed by the Reserve Bank of Australia and its wholly-owned subsidiary, Note Printing Australia.
The face of the note features two Philippines symbols, the critically endangered Philippine eagle and the holographic Sampaguita, the national flower of the country.
The BSP hopes that the design of the polymer banknote will remind Filipinos of the importance of environmental preservation and the need to ensure a sustainable future for all.
The back design of the note, meanwhile, is unchanged from the previous 1000 Piso issue which features the Tubbataha Reefs Natural Park (a UNESCO World Heritage Site), country map, and South Sea pearl.
The BSP began circulating the award-winning banknote in April 2022.
Polymer banknotes emerging as an IBNS favorite
In announcing the award, the IBNS said: “The Philippines’ successful design in eye-pleasing blue combines an endangered species with an environmental motif.”
The IBNS is a global non-profit organization that recognizes exceptional banknotes issued each year on the basis of artistic merits, such as design and use of colors, as well as high-quality security features.
According to their website, banknotes nominated must have been issued to the public (specimens and non-circulating currencies are ineligible) for the first time during the year of the award and must have artistic merit and/or innovative security features. They should also be in general circulation.
Polymer banknotes represent a dramatic shift from the cotton and abaca material previously used and continue to be a popular IBNS favorite.
As of this writing, they have become perennial winners at the IBNS Banknote of the Year awards.