BIZ BUZZ: BSP is ‘Currency Manager of the Year’

T he Bangko Sentral ng Pilipinas (BSP) just scooped up the Currency Manager of the Year award from Central Banking, a prestigious organization based in London.

Why the spotlight? The BSP’s been working hard to keep the country flush with reliable, high-quality banknotes. And that’s no small task in a growing economy.

A standout move was their rollout of the new polymer banknote series.

Central Banking also commended the BSP’s partnerships with Banque de France and Germany’s state-run banknote maker, Bundesdruckerei. These tie-ups cover the big stuff: currency management, security, production and payments.

The BSP’s running partnership with Note Printing Australia (yes, the unit of the Reserve Bank of Australia) got a nod too. They’ve been behind the production of the Philippines’ first-ever polymer banknotes.

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In a video posted to Central Banking’s website, BSP Governor Eli Remolona, Jr. summed up the achievement nicely:

“Banknotes remain vital in our developing economy. We’re committed to ensuring our people have enough of them and have faith in them.”