The 1,000-Piso polymer banknote of the Bangko Sentral ng Pilipinas has won the International Banknote Society’s (IBNS) “Banknote of the Year Award” for 2022.
The polymer thousand-peso bill is the first Philippine banknote to win the award. It won over banknote finalists from Algeria, Barbados, Egypt, Northern Ireland, and Scotland.
In announcing the award, the IBNS said: “The Philippines’ successful design in eye-pleasing blue combines an endangered species with an environmental motif.”
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.
The obverse side of the 1,000-Piso polymer banknote showcases the Philippine Eagle, which symbolizes the Filipino people’s uniqueness, strength, power, love for freedom, and sharp vision. It also features the national flower, Sampaguita, which represents purity, simplicity, humility, and strength.
The bill’s reverse side showcases the Tubbataha Reefs Natural Park, a United Nations Educational, Scientific and Cultural Organization World Heritage Site; the T’nalak weave design of the T’boli people; and the South Sea Pearl.
The BSP began circulating the award-winning banknote in April 2022. It was printed by Note Printing Australia, a wholly-owned subsidiary of the Reserve Bank of Australia, Australia’s central bank.