Uot She Said Duringa Briefing On Friday Bsp Authorities Have That Issuing Polymer Notes Is More Cost Effective Because It Has Longer Life Span Compared To The Current Paper They People Can Easily Wipe Clean Currency Bills News Today : Breaking News, Live Updates & Top Stories | Vimarsana

POLYMER BILLS. Banks in the National Capital Region should have their automated teller machines fully-capable of issuing and accepting polymer banknotes by end-2022. Also, banks outside the national capital should be ready for this service by June 2023. (Photo from BSP) MANILA - Banks in the National Capital Region (NCR) should have their automated teller machines (ATMs) fully capable to service polymer notes by end-2022 while those in areas outside NCR by June 20, 2023. The Bangko Sentral ng Pilipinas (BSP) started issuing the PHP1,000 polymer banknotes last April and it aims to issue an initial 10 million pieces as part of its test circulation. It targets to issue 500 million pieces of the said denomination of polymer banknotes by 2023 and BSP Bank Officer IV Xyza Jane S. Templonuevo said the target is doable. "We have a schedule that we follow so if ever we will encounter challenges we will adjust such that we will definitely reach the target of issuing 500 million pieces in ci

Bangko sentralXyza janes templonuevoNational capital regionPolymer bills banks in the national capital region should have their automated teller machines fully capable of issuing and accepting banknotes by end 2022 alsoAnks outside the national capital should be ready for this service by june 2023 photo from bsp manila banks in region ncr have their automated teller machines atms fully capable to polymer notes end 2022 while those areas 20023 the bangko sentral ng pilipinas bsp started issuing php1000 polymer banknotes last april and it aims to issue an initial 10 million pieces as part of its test circulation targets 500 the said denomination by 2023 bsp bank officer iv xyza janes templonuevo target is doable quot we havea schedule that follow so if ever will encounter challenges adjust such definitely reach issuing inUot she said duringa briefing on friday bsp authorities have that issuing polymer notes is more cost effective because it has longer life span compared to the current paper they people can easily wipe clean currency billsA plus vis the ongoing virus induced pandemic it also has security features that use advanced technologyHich monetary authorities said isa good deterrent against counterfeiting the php1000 polymer banknote is being issued alongside the php1000 paper notes the bsp is currently outsourcing manufacturing of polymer banknotes while it on test circulation phase templonuevo said among metrics they are monitoring during period include cost effectivenessDigital capabilityNd environmental impact and results of these will be compared to the experiences other central banks that have issued same currency type quot issuance full set depend on this circulation testUot she added pna