IFSU INKS PARTNERSHIP WITH BSP
Ifugao State University (IFSU) and Bangko Sentral ng Pilipinas (BSP) signed a Memorandum of Understanding (MOU) on the BSP Knowledge Resource Network at the Audio Visual Room, University Library, Main Campus on May 9, 2018.
Dr. Serafin L. Ngohayon and Bangko Sentral ng Pilipinas Director Rogel Joseph D. Del Rosario headed the Ribbon Cutting and Launching of the BSP Knowledge Resource Collection (KRC) located at the Periodical Section of the University Library.
The BSP KRC is an initiative at information and knowledge sharing that aims to enhance the public’s understanding of economic and financial concepts and issues. The KRC houses updated BSP publications such as books, reports, guides, manuals, primers and brochures, as well as provide access to online publications and research assistance services to the public.
BSP lectures on counterfeit money
The Bangko Sentral ng Pilipinas gave trivia to IFSU students and employees on how to make sure that the money is not counterfeit at the Audio Visual Room, University Library, Main Campus on May 9, 2018.
Bangko Sentral ng Pilipinas Director Rogel Joseph D. Del Rosario said that the basic premise against money is its feel.
He added that banknotes are printed on special… paper that gives them their unique feel. The printed line and colours on the banknotes are sharp, clear and free from smudges. By running your finger across the front of the note you can feel raised prints in areas such as the words “REPUBLIKA NG PILIPINAS” and denomination in words, portrait, signatures and lower right value panel on the face of the note.
Other features can be observed by examining the watermark. A shadow image of the portrait and the denominational value appears at the blank space when the note is viewed against the light from either side. Inspect the Fiber. Red and Blue visible fibers embedded randomly on the paper.
View the embedded security thread. For 20 and 50 peso bill – an embedded thread running vertically across the notes is seen from the either side when viewed against the light.
View the windowed security thread. For 100-, 200-, 500- and 1000- Piso – A stitch-like metallic thread running vertically across the note, which changes colour from red to green when viewed at different angles. This thread bears the alphanumeric denominational value clear text seen in front and the “BSP” imprint found at the back, both in repeated series.
Check the concealed value. The denominational value superimposed on the smaller version portrait at the upper left side of the notes becomes visible when the note is rotated 45 degrees and tilted down.
Check the optically variable ink. Embossed 1000 denominational value at the lower right corner of the face of the note, which when viewed at different angles, changes from green to blue.
Check the serial number. Composed of 1 or 2 prefix letters and 6 to 7 asymmetric (increasing in size) digits located at the lower left and upper right corners of the face of the note.
Check the See-through Mark. The word “Pilipino” written in Baybayin (pre-Spanish Philippine alphabet) is seen in complete form when the note is viewed against the light.
Check the Optically Variable Device (OVD) Patch. A reflective foil that bears the image of the image of the Blue-naped Parrot (for 500)/ South Sea Pearl inside an oyster (for 1000) and small BSP logo. The background and the parrot/oyster exchange color when the note is rotated at 90 degrees, i.e, red parrot/oyster becomes green while the green background becomes red.
Philippine NGC Coin Series Meanwhile, the BSP also disclosed the New Generation Currency (NGC) Coin Series which will be formally launched next month, July 2018.
The NGC Coin Series features the endemic flora of the Philippines: the Kapa-kapa, Tayabak, Walingwaling, Katmon, Kapal-kapal Baging, and Mangkono whose varying characteristics of beauty, toughness, versatility, and adaptability run parallel to Filipinos’ resilience and grace under pressure, facing adversity head-on but with a smile, carrying on to greater heights, and never losing but letting that distinct Philippine identity shine through.
However, the BSP clarifies that, the existing coin series shall remain to be legal tender and can be used alongside with the NGC Coin Series for day to-day
transactions to pay for goods and services, until such time as the BSP calls for the demonetization of the said BSP Coin Series.
-Florida B. Robles