News and UpdatesIn the NewsBSP nets 94,609 coins

BSP nets 94,609 coins

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The Banko Sentral ng Pilipinas in Negros Oriental has collected a total of 94,609 pieces of coins of different denominations being flushed out from drawers, altars, or piggy banks during a two-day national coin recirculation activity held at the city hall of Dumaguete City recently.

In a report, Dr. Greg Baccay, research specialist and head of the BSP’s Economic Financial Learning Center of the Bangko Sentral here, disclosed Wednesday the collected coins amount to P102,243.17 after serving a total of 114 clients in the City early this month.

Of the 94,609 coins, 25-centimo coins had the highest number at 25,125, followed by 10-centavo coins at 21,588 pieces, and one peso coins at 18,809 pieces.

The coin recirculation program is now province-wide, following the success of the two-day activity in Dumaguete.

Baccay stressed consumers can actually bring their coins directly to retailers, not necessarily to the BSP.

The one centavo to 25-centavo coins can be used to purchase items not exceeding P100 in amount, while the P1, 5, and 10 coins can be used to purchase P1,000 worth of items.

Dr. Baccay said he is sure retail outlets will be happy if these coins are used by consumers in their daily purchases. (Juancho Gallarde/PNA)

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