Youth group in Lingayen leads info drive against counterfeits

By April Montes

 

LINGAYEN, Pangasinan – The Economics Society of Pangasinan University (PSU) Lingayen campus in cooperation with the Bangko Sentral ng Pilipinas (BSP) held an information dissemination campaign on the circulation of the new generation currencies in the town recently.

The information drive seeks to secure people from counterfeits and to keep them from losing their hard earned money by knowing the latest banknote security features incorporated in the new generation currencies.

The new generation currencies (NGC) has denominations of P20, P50, P100, P200, P500 and P1000 with enhanced security features that makes it difficult for counterfeiters to copy and makes it easy for the public to identify the real from the fake  ones.

Anna Liza Catan, head of the economic and financial learning center of the BSP Dagupan City branch showed the participants an audio-visual presentation on how money is being made. She also explained the salient security features of the new currencies which can be verified through one’s sense of sight and touch.

These features include the embossed prints serial number, security fibers, watermarks, see through mark concealed value and security threads for small denominations and extra feature such as optically variable device and optically variable ink for big currencies such as P500 and P1000.

An authentic NGC has embossed prints which could be felt when touching its “Republika ng Pilipinas” and its monetary value. The serial number located at the lower left corner of the money uses two prefix letters and six or seven asymmetric numbers. It also has the usual security fibers visible through red and blue threads embedded in the paper that glows when viewed under red violet light.

The watermark has added the value of the note as a security feature. Furthermore NGC has a see through mark wherein the word Filipino written in “baybayin” can be seen when it’s viewed against  the light. The concealed value, a new security feature is visible, placed over on the portrait at the upper left side of the money and can be seen when the note is viewed while rotated 45 degrees and tilted down. Then the old security thread set in can be seen vertically across on either side of the money.

The optically variable device allows the blue-naped parrot in P500 to change its colors when the note is rotated. This is also true with the south sea pearl image in P1000. In addition, the P1000 bill as the optically variable ink that changes the color of the monetary value from green to blue when viewed at different angles.

The old currencies can still be used along with the new ones until the old bills are demonetized by 2013, said Catan. The event was attended by students of Pangasinan State University (PSU) Lingayen campus, Pangasinan National High School (PNHS) and St. Columbus College.

With this campaign initiated by the Economics Society, the public became vigilant in rcognizing the genuine currencies from the forged ones circulated by counterfeiters. Young as they are, these future economists know their social responsibility. Their partnership with Bangko Sentral ng Pilipinas in spreading knowledge pertaining to this matter is vital to sustain the economy.#