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Maligned PHL banknotes earn currency honors in Singapore


The Philippines’ paper money series, known as the New Generation Currency (NGC) banknotes, won a finalist award for Best New Banknote Series in a conference in Singapore, the Bangko Sentral ng Pilipinas said on Friday. Monetary Board member Armando L. Suratos and Deputy Gov. Juan de Zuñiga received the award from the International Association of Currency Affairs (IACA). The NGC series and the BSP were sharply criticized when the banknotes were unveiled. Critics opined that the new paper bills had errors. The IACA’s Best Banknote Series award was for the Ugandan Shilling while the Sri Lankan Rupee was runner-up.

Courtesy of Bangko Sentral ng Pilipinas
“The winners were voted by IACA members during the general sessions of the Currency Conference from a shortlist of three finalists selected by the IACA Committee earlier," the BSP said. Another award, for Best New Currency Feature, recognized the Hologram Industries’ Optically Variable Device (OVD) Patch — a security feature on the P500 and P1000 NGC series. The OVD patch is a reflective foil that bears the image of BSP Logo with a parrot on the P500 bill and the South Sea Pearl inside a clam in the P1000 bill. The color of the parrot and the clam changes from red to green when the note is rotated 90 degrees. — ELR/VS, GMA News
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