Circulating paper money devalued by 2013
July 4, 2011
ANGELES CITY — Paper money in circulation will be devalued two years from now, a top official of Bangko Sentral ng Pilipinas (BSP)-Pampanga said over the weekend.
BSP-Pampanga manager Tomas Carino has encouraged the public to start spending current paper bills they have or exchange them for new bills in the banks.
During his speech at the Pampanga Federation of Rural Banks in this city, Carino said circulating coins are exemptions, however, to the devaluing of money on 2013.
The new bills were described by Carino with four “Ms” – Maganda (beautiful), matibay (durable), malinis (clean) at makulay (colorful).
Carino said the new bills are more durable because they are made from 20 percent cotton and 80 percent abaca, which is also the national government’s way of supporting the local abaca industry.
He also said the new bills have anti-bacterial content, which keeps them clean even if several persons have handled them.
Moreover, the new notes have several new security features including embossed prints, improved serial numbers, embedded security fibers, a watermark, and a security thread among others.
Carino said security features makes the new bills difficult to copy.
Source: http://www.sunstar.com.ph/pampanga/local-news/2011/07/03/circulating-paper-money-devalued-2013-164745
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