The polymer ₱1,000 bill from the Philippines has been named the “Banknote of the Year Award” by the International Banknote Society (IBNS), making it the first Philippine banknote to achieve this honor. The bill is an eye-catching shade of blue, adorned with Philippine flora and fauna, and combined with an environmental motif that features an endangered species. The IBNS praised the design for its aesthetics and practicality, as polymer banknotes have a 2.5 to 4 times longer lifespan than paper notes and can be easily sanitized without damage. As a non-profit group that advances global banknote and paper currency studies and knowledge, the IBNS has recognized the Philippines for its innovative and sustainable approach to currency design.
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