MANILA - Plastic, or polymer, 1000-piso bills may soon be in circulation by next year, the Bangko Sentral ng Pilipinas said on Monday as the central bank tries to find ways to make banknotes safer and more durable.
https://news.abs-cbn.com/spotlight/10/12/20/coronavirus-can-survive-for-28-days-on-surfaces-including-phones-bank-notes-study While polymer banknotes are more expensive to produce, they need to be replaced less often than paper notes. The Bank of England for example says polymer banknotes have reduced its production costs by 25 percent over a 10 year period.
The BSP said its test could run for at least 3 years, to prove if the polymer notes truly last 2.5 times longer than traditional banknotes under Philippine conditions. The current banknotes last an average of 18 months or 1.5 years each. This is not the first time the BSP proposed the use of polymer banknotes. It was suggested in 2009, but the proposal was shut down. Tangonan says the COVID-19 pandemic, as well as heightened environmental concerns, have pushed them to propose the use of polymer notes again.
Just like sa SG currency na plastic gawa? If so, ilayo nyo ang pera nyo sa Microwave, maluluto, pramis! It happened to me, buti na lang S$5.00 lang yun.
Money of consistent value could be sustainability.
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