November 30, 2010

New "Aquino signed notes" circulate this December

This November 26, the signature of President Benigno Aquino III will be seen on several banknotes or paper bills, the Bangko Sentral ng Pilipinas (BSP) said Wednesday.

BSP Gov. Amando Tetangco Jr. will lead a ceremony in MalacaƱang presenting the new banknotes bearing the signature of Aquino, the country’s 15th president.

For security reasons, the central bank did not disclose details of the new banknotes making it difficult for counterfeiters to come up with fake bills.

The BSP said the new banknotes were delayed since the central bank had to make new plates bearing Aquino’s signature.

The Philippine peso will have a new face in time for the celebration of Christmas next month.

The Bangko Sentral ng Pilipinas (BSP) will launch a new redesigned batch of bank notes in December that will feature an upgraded design and security features.

This was disclosed by Ms. Fe M. dela Cruz, BSP’s Corporate Affairs Office, on Thursday, during the presentation of bank notes bearing the signature of President Benigno Simeon Aquino III at the Presidential Guest House in MalacaƱang.

Dela Cruz said that the new batch of notes to be launched include the 20, 50, 100, 200, 500 and 1,000 peso bills, all of which will have the new design and a much stricter security features.

Dela Cruz did not give specific details but assured that the BSP has been working hard on the newest batch of notes adding that it will be appreciated by the public.

“The security features are more difficult and will be more costly for counterfeiters to copy pero mas madali po sa public na ma-identify kung alin ang counterfeit at alin yung genuine”, Dela Cruz said.

She urged the public to take care of the bank notes for it represents the Filipino culture and core values.

“Let us not crumple, wet, or deface our peso bills. We should always be careful in handling our legal tender,” said Dela Cruz, stressing that the peso bills represent the nation, and its people, as well as what we take pride of as Filipinos.

Dela Cruz clarified that only the design and security features will be upgraded, the color of the bank notes to be launched will be retained to allay confusion from the public.

She added that the peso bills with the old design and features remain legal tender until it will be phased out in three to four years time.

During the event, the BSP presented to the President a complete set of Philippine peso bills with his signature but with the same design and features. The said batch of notes will be in circulation starting Friday.

The BSP has been printing bank notes with the signature of President Aquino since he assumed office in June. At least two billion pieces of bank notes, of all denominations, are being printed

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