The Bangko Sentral ng Pilipinas (BSP) said Saturday that the supply of fresh banknotes and coins is sufficient in view of the surge in currency demand amid the holiday season.
The Bangko Sentral ng Pilipinas said Saturday that the supply of fresh banknotes and coins is sufficient in view of the surge in currency demand amid the holiday season.
Citing historical bank withdrawal data from October to December 2019-2021, the central bank said that the uptick in currency demand begins in October and continues until December of every year. In line with its broader efforts to promote efficient recirculation of fit currency, the central bank advised the public to have their unfit banknotes and coins exchanged for fresh ones with their depository banks at no additional charge.
“The public is also encouraged to regularly use their coins in paying for goods and services,” the BSP said.
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