Bangko Sentral Ng Pilipinas Tour

On September 11, 2013, The section of MAR121 of NU College of Business & Accountancy held on educational tour in Bangko Sentral ng Pilipinas for the purpose of bonding with friends, to learn new things and mainly to see firsthand the process of making money. We went to Bangko Sentral ng Pilipinas. When we enter the BSP, I noticed that the building is highly secured. We are restricted to bring cellphones, cameras, gadgets and our bags and we’re only allowed to bring personal belongings. First Our tour guide shows us the different series of banknotes like the Bagong Lipunan series banknotes, New design series banknotes, New Generation banknotes and some various overprints. Then our tour guide takes us to a briefing room where he shows us different videos about the Evolution of Philippine Money and the process of how to make banknotes and making coins.

I learned a lot and also the videos were useful since it includes the security features in the new generation banknotes so now I know what to look for in the new generation banknotes to define if it is real or fake. Next is he takes us to a floor where we can see the BSP employees do their job as they work on their workplace making the e-passports. Our tour guide explains that it is called electronic passports because it has a silicon chip where all the personal information is put. We’re also showed the different facilities making the banknotes from the start to the sheet-cutting and ending at the counting process. Through the tour he explains that there are some foreigners included in the workers because they are training the employees in using and maintaining the new machines. It is a relief to know that even the machines that is use to make money are also being modernized.

He also leads us to the Gold Refinery, a place where the BSP are supposed to smelt gold into gold bars, but it is sad that we’re not going see the process of smelting firsthand since the BSP doesn’t have any gold to smelt. Our tour ends at the 2nd floor where we are allowed to purchase souvenirs. Most of the students choose to buy the people power commemorative coin and some bagong lipunan banknotes as souvenirs. The tour was fairly long, but meaningful and also fun. The tour truly helps us appreciate the importance of money and how the BSP made it. We learned about a few things that could help us somewhere in the future, particularly using the knowledge about the security features of new generation banknotes that could help us against money laundering. Undeniably the time we spent for the whole tour was a time well spent.

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