The Bangko Sentral ng Pilipinas (BSP) will issue the first 1000-Piso notes bearing the signature of President Gloria Macapagal-Arroyo starting July 3, 2001, coinciding with the Bank's 8th anniversary celebration.
The 1000-Piso notes with added security features bearing the President's signature will have two versions. Version 1 has the same furnish and security features as the present 1000-Piso notes, but with the improved optical variable ink (OVI) printed value panel. Only 500,000 pieces of this note were printed just to exhaust the Bank's inventory of the cotton-linen banknote paper. Version 2 of the 1000-Piso banknote with the President's signature has 20% abaca and 80% cotton finish. it will also have the OVI printed value panel and enhanced security features which include an iridescent band and windowed colorshift with cleartext security thread.
The Philippines remains the world's largest producer of abaca, supplying about 84 percent of the world's requirement which includes Japan as the number one importer. The integration of abaca in our notes which has been undertaken in phases in order to improve the strength properties of the banknote paper will result in longer circulation life and at the same time will give the abaca market a big boost.
These added security features in our present banknotes will help prevent counterfeiters from producing fake banknotes which have affected the Filipino people and the economy as a whole.
BSP Gov. Rafael B. Buenaventura will lead the presentation of the improved 1000-Piso notes to the President at the Malacañang Palace on July 6, 2001.