MANILA: The Bangko Sentral ng Pilipinas (BSP) said PHP783.6 million worth of coins have been deposited through its coin deposit machines (CoDM) as of June 23 this year.
In a Facebook post on Friday, the BSP said the amount is equivalent to 211.68 million pieces of coins from 191,804 transactions.
The BSP launched the CoDM project on June 20, 2023 to address the artificial coin shortage in certain areas of the country and to help ensure that only fit and legal tender currency are readily available for public use.
CoDMs allow customers to conveniently deposit their legal tender coins to be credited to their GCash or Maya electronic wallet accounts, or converted into shopping vouchers.
The coin deposit machines support the BSP’s Coin Recirculation Program that aims to put idle coins back in circulation to serve the currency needs of the country.
To date, the BSP deployed 25 CoDMs in partner retail establishments across the Greater Manila Area.
These are located at Robinsons Place Metro East, Pasig City; Ro
binsons Place Novaliches, Quezon City (QC); Robinsons Place Antipolo, Rizal; Robinsons Place Magnolia, QC; Robinsons Place Ermita, Manila; Robinsons Place Galleria, Ortigas; Festival Mall, Muntinlupa City; SM Megamall, Mandaluyong City; SM City Grand Central, Caloocan; SM City Marilao, Bulacan; SM City Taytay, Rizal; SM Hypermarket FTI, Taguig City; SM Southmall, Las Piñas City; SM City Sucat, Parañaque; SM City Calamba; SM City Marikina; SM City San Mateo, Rizal; SM City Valenzuela; SM Mall of Asia, Pasay City; SM City North EDSA, QC; SM City Fairview, QC; SM City San Lazaro, Manila; SM City Bicutan, Parañaque; and SM City Bacoor, Cavite.
Source: Philippines News Agency
