Philippine Asian News Today Vol 20 No 16 | Page 12

12 BUSINESS NEWS PHILIPPINE ASIAN NEWS TODAY August 16 - 31 , 2018

Get to Know Canada ’ s First Vertical Bank Note

PNT Foreign Exchange

$ 1.00 Cdn = P 41.73Php

$ 1.00 US = P 53.40 € 1.00 EUR = P 62.50 D1.00 BHD = P 142.05 R1.00 SAR = P 14.23 ¥ 1.00 JPY = P 0.48

Canada ’ s new $ 10 bank note will begin to appear in cash transactions late this year .
Designed to stand apart , it ’ s the first vertical note issued by the Bank of Canada , and features the portrait of social justice defender Viola Desmond .
Here ’ s what businesses and cash users need to know about this new $ 10 bill . It Pays to Check As with Canada ’ s other notes , the new $ 10 has bold security features , ensuring that Canadians can use it with confidence . That ’ s why the Bank issues new notes – to stay ahead of counterfeiting threats and to keep pace with advances in technology .
But remember , bank notes are only secure if you check them . Routinely checking all notes — no matter which series or value — allows you to intercept counterfeits and keep them out of circulation .
The security features on Canada ’ s vertical $ 10 note are quick and easy to check :
• Feel the smooth , unique texture of the note . It ’ s made from a single piece of polymer with some
transparent areas .
• Feel the raised ink on the front of the note , namely on the portrait , the word “ Canada ” and the large number ‘ 10 ’ at the bottom .
• Look at the detailed metallic images and symbols in and around the large transparent window .
• Look at the pattern in the eagle feather . Tilt the note to see the colour shift from gold to green .
• Flip the note to see the elements inside the large window repeated in the same colours and detail on the other side .
The new $ 10 note will be rolled out gradually and circulate alongside the other polymer $ 10 notes . Unlike the special $ 10 note issued for Canada ’ s 150th anniversary in 2017 , printed in a limited quantity to mark this historical milestone , the vertical $ 10 note will be the regular $ 10 note produced for years to come . Helping Businesses Prepare Business owners may be wondering what this new $ 10 note means for their cash-handling equipment . The vertical $ 10 has been designed to minimize the impact on the cash-handling industry and maintains the same functional
features as current polymer notes . Equipment owners and renters should contact their suppliers with questions about machine compatibility .
A Look Ahead – What Comes
Next
With the release of this new $ 10 note , the Bank of Canada ’ s approach to issuing bank notes is changing . Rather than issuing all five denominations within a short time frame , a new note will be released every few years . This will allow the Bank to integrate the latest security features each time a new bank note is issued , ensuring that Canadians can continue to use their
bank notes with confidence .
For free , downloadable materials to help businesses train their staff , visit www . bankofcanada . ca / retailers .
For more information , contact us at 1-800-303-1282 or info @ bankofcanada . ca .
Follow the Bank on Twitter (@ bankofcanada ) for the latest news about Canadian bank notes .
The Bank of Canada Museum is on Facebook ! Follow , like and share the latest information about Canada ’ s upcoming $ 10 bank note and much more : @ BoCMuseum .

Toll fees hike approved

Expect higher toll fees soon in North Luzon expressway ( NLEx ) and Manila-Cavite expressway ( Cavitex ).
Arthur Tugade , secretary of the Department of Transportation , said the agency and the operator of the tollways , Metro Pacific Tollways Corp . ( MPTC ), have agreed to settle the long overdue toll adjustments on a staggered basis .
Tugade said the adjustments
should be in gradual phase to cushion the impact on motorists .
MPTC filed an arbitration case in Singapore in 2016 due to the delay in the approval of the toll adjustment .
Total claims have reached over P8 billion from over P6 billion two years ago .
The toll fee adjustment due
Cavitex was supposed to have taken effect January 2013 and for NLEx , January 2015 .
Rodrigo Franco , MPTC president , said the company will terminate the arbitration case in Singapore .
“ We ’ ve also supported the position of the government that we find a mutual acceptable way of settling
the issue ,” Franco said .
Franco hinted the possibility the adjustment to take effect starting this year .
“ We are waiting for TRB ( Toll Regulatory Board ) action on the petitions . We don ’ t know yet how much of the increase will be allowed to be implemented this year . We should hear from the TRB soon ,” Franco said ( Myla Iglesias , Malaya )
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