Polymer banknotes

The Bangko Sentral ng Pilipinas teams up with Note Printing Australia, a subsidiary of the Australian central bank, in the initial rollout of modern polymer banknotes. BSP Governor Benjamin Diokno (center) receives uncut 1000-peso polymer banknotes from NPA chief executive Malcolm McDowell during a high-level event at the Manila residence of Australian Ambassador to the Philippines Steven Robinson (left). The new polymer banknote is more durable and cost-effective due to its extended lifespan, more environment-friendly because of its smaller carbon footprint and recyclability, and more hygienic and sanitary.