The Philippines’ New Generation Currency banknote series, known as the NGC, received a finalist award for the Best New Banknote Series category during the 2011 Currency Conference held in Singapore last 5 October 2011. The award was given by the International Association of Currency Affairs (IACA), whose membership includes central banks, financial institutions and industry players. The Ugandan Shilling bagged the top award while the Sri Lankan Rupee was also a runner up.
The Best New Banknote Series award is open only to banknotes which were released for circulation in the last 18 months. The NGC series comprising of 6 denominations was launched by the Bangko Sentral in December 2010. The winners were voted by IACA members during the general sessions of the Currency Conference from a shortlist of three finalists selected by the IACA Committee earlier.
Meanwhile, the Optically Variable Device Patch (OVD patch) of the Hologram Industries won the Best New Currency Feature. This award is given to new security features issued in a banknote in the last 18 months. The OVD patch security feature appeared in a banknote for the first time in the Bangko Sentral’s 500-piso and 1000-piso NGC series. This is shown as the reflective foil that bears the image of BSP Logo with parrot (500-piso) and South Sea Pearl inside the clam (1000-piso). The color of the parrot and the clam changes from red to green when the note is rotated at 90 degrees.
Other awards given by IACA were the Best New Coin or Coin Series; Best New Currency Innovation, Process or Product; Best Public Education Program; Best Currency Website; and Outstanding Achievement or Lifetime Achievement Award.