The Bangko Sentral ng Pilipinas (BSP) communication campaign for the PHP1,000 polymer currency was recently awarded by the International Association for Currency Affairs (IACA) at the 2023 Excellence in Currency Award in Mexico City.

The PHP1,000 polymer note campaign was selected as the "Best New Currency Public Engagement Program," according to a BSP press release issued over the weekend.

The award is given to institutions for excellent activities that use different communication platforms, media, or formats to inform stakeholders about new banknotes or coins.

It added that BSP's public engagement effort with the PHP1000 polymer banknote beat out rivals from the Royal Canadian Mint and the Central Bank of Barbados.

The BSP's communication campaign, with the motto "smarter, cleaner, and stronger," stresses the advantages and benefits of polymer banknotes over paper banknotes.

"Smarter" because polymer banknotes can accommodate more sophisticated security features against counterfeiting; "cleaner" because bacteria and viruses die faster on polymer due to its smoother surface; and "stronger" because polymer lasts at least two to five times longer than paper banknotes, which helps reduce printing costs in the long run.

To raise public understanding and appreciation for the polymer banknote, the central bank held stakeholder discussions and distributed information through social media, webpages, news releases, roadshows, training sessions, and video presentations.

The bill was named Banknote of the Year by the International Bank Note Society in 2022.

The polymer banknote was also a finalist for IACA's Best New Banknote or Banknote Series award in 2023, which went to Bank Indonesia's 2022 Rupiah Banknote Series.