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Why Bangko Sentral chose P1,000 for polymer banknotes test

Dec 2, 2021

Dec 2, 2021 7:45 PM PHT Copied The Bangko Sentral ng Pilipinas says 30% of the bills in circulation are P1,000 banknotes, and these are also the most prone to counterfeiting MANILA, Philippines – Critics and insiders had slammed the Bangko Sentral ng Pilipinas (BSP) for testing polymer on P1,000 bills, instead of using smaller denominations. Rappler sources argued that polymer is better tested on P50 or P100 bills, as they are more frequently used in everyday life. But in a briefing on Thursday, December 2, BSP Deputy Governor Mamerto Tangonan said there are actually more P1,000 banknotes in circulation than other denominations. Mamerto said 30% of the bills in circulation are P1,000 banknotes, making it the most ideal for the polymer testing. Moreover, Mamerto noted that the P1,000 bill is also the most frequently counterfeited. Must Read

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