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BSP collects P510 M via coin deposit machines

February 24, 2024

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The Philippine Star

The Bangko Sentral ng Pilipinas (BSP) has collected over half a billion pesos worth of coins as part of efforts to bring them back to circulation and address the shortage due to improper storage or disposal.

- LOUISE MAUREEN SIMEON

Roughly eight months since its launch, the coin deposit machines of the BSP have accepted a total of 145.5 million coins equivalent to P510 million.

These coins came from about 134,000 transactions.

Since June last year, the BSP has deployed 25 coin deposit machines in various malls in the Greater Manila Area.

The coin deposit machines aim to improve coin circulation in the country and to encourage people to convert the coins into e-wallet credits and shopping vouchers.

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