Sunday 16 February
Feb 14, 2020 @ 9:08

PH outsources printing of currency notes to Sweden, France

 

By Eileen Mencias

The Bangko Sentral ng Pilipinas has tapped Sweden’s Crane AB of Sweden and France’s Oberthur Fiduciaire S.A.S for the supply of its new generation currency notes.

Crane AB will be supplying the BSP with 422,000 bundles of P1000 notes for 32 million euros.

Oberthur, on the other hand, is supplying the Philippines with 90,000 bundles of P200 notes, 177,000 bundles of P50 notes and 600,000 bundles of P100 notes. The contract is worth 31 million euros.

It is the same firm that printed the embarrassing Arrovo bills over a decade ago that subjected then president Gloria Macapagal Arroyo to ridicule because of the misspelling of her name.

The notes would not have been printed and delivered if the BSP hadn’t approved it.

The BSP has its own banknote and security printing plant and mint and gold refinery located in its Quezon City complex.

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