The Bangko Sentral ng Pilipinas Series or BSP Series of currency notes is the sixth and current set of notes to be issued for circulation in the Philippines. It was first introduced on July 3, 1993 by the Bangko Sentral ng Pilipinas (BSP) which replaced the Central Bank of the Philippines pursuant to Republic Act No. 7653 or the New Central Bank Act.
Contents
This series features the portraits of national heroes and former presidents of the nation. The high-denomination notes of PHP100, PHP200, PHP500 and PHP 1000 were modified with anti-counterfeiting measures including a windowed security thread and iridescent band in 2001 and 2002.
Background
The BSP Series mainly carried over designs of the New Design Series issued in 1985. The banknote's obverse featured the portrait of either a national hero (e.g. Benigno Aquino, Jr. on the PHP500) or a former presidents (e.g. Manuel L. Quezon on the PHP20). While the reverse featured The series has a total of eight denominations in general circulation; the denominations of PHP5 and PHP10 were carried forward until they were replaced by coins respectively in 1995 and 2000. Printing of the said denominations discontinued in 1996 and 2002 respectively; however are still legal tender.
Security features
Previous security features in the New Design series were carried over to the BSP series, and new ones incorporated into the banknote. Two prominent security features form the banknote - the engraved portrait of the person(s) and the design of the background.
Other security features include lithographic print, anti-copying line structures, perfect registration, microprinting, serial number, windowed security thread and watermark. All banknotes have security features that are invisible and only appear when the banknote are exposed under UV light.