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ILOILO City – The Bangko Sentral ng Pilipinas (BSP) called on Ilonggos to exchange their lower denomination coins through any of the two venues made available under its coin recirculation program.
“We encourage the public to flush out the coins in their storage,” said BSP Iloilo’s Lowen Andres June Ligad.
BSP has “Palit Barya sa mga Ahensya” and “Sensilyo Mo Kambyuhan Ko” programs that exchange coins for bills.
Under the “Palit Barya sa mga Ahensya,” BSP visits government offices and urges employees to exchange their coins with bills. It is held every Friday from 3 p.m. to 5 p.m., said Ligad.
BSP has so far visited the Iloilo provincial capitol and city hall, Philippine Health Insurance Corp. and National Economic and Development Authority.
It will soon visit the Philippine Statistics Authority and the Department of Environment and Natural Resources.
The “Sensilyo Mo Kambyuhan Ko,” on the other hand, is every Tuesday, Wednesday and Thursday. During these days, the BSP opens its door to the public from 9 a.m. to 1 p.m. for them to exchange their coins.
Ligad said under the national coin recirculation program, they encourage the public to provide importance to coins by making it a habit to accept and utilize coins and be compliant to the Consumer Welfare Act where patrons must be given their exact change.
BSP, meanwhile, is also looking forward to educate drivers and market vendors on the proper handling of peso bills.
Ligad, however, lamented that some government offices they sought support for their information campaign seemed lukewarm. This was his response when a point was raised regarding how some public utility drivers and some market vendors handled peso bills.
Crumpled bills are still considered “legal tender” although they are classified as “unfit notes”, clarified Ligad.
Intentional mutilation of the notes, however, is punishable under the law, he stressed. (PNA)
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