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The Bangko Sentral ng Pilipinas (BSP) said there will be sufficient supply of banknotes and coins during December and throughout the holiday season. "The BSP assures the public that sufficient supply of fresh banknotes and coins is available in view of the seasonal surge in currency demand,” the c
The Bangko Sentral ng Pilipinas (BSP) said on Wednesday, Nov. 3, that it has retired some 519.93 metric tons of “unfit, demonetized, mutilated and counterfeit” (UDMC) coins by the process of defacement which started October last year until September 2022. Coins considered unfit are those that are
To promote coin recirculation program and prevent hoarding, the Bangko Sentral ng Pilipinas (BSP) has partnered with the country’s top retailers for the use of automated coin deposit machines (CoDM). During the pilot run of the project, the BSP will initially deploy 25 CoDMs in Metro Manila and se
The Bangko Sentral ng Pilipinas (BSP) advised the public to exchange or deposit “unfit” coins as part of its campaign to promote and improve its use and circulation. 73631 “Proper handling of coins helps maintain their structural integrity, which also promotes vigilance against their unlawful us
Editorial After the seizure of some P50 million worth of bagged 1-piso coins in a Quezon City warehouse, the Bangko Sentral ng Pilipinas sounded a call for “the passage of a law on the hoarding of an extremely large volume of coins, as the central bank believes that the criminalization of this acti