BSP reminds public to handle coins properly

The Bangko Sentral ng Pilipinas (BSP) reminds the public to observe proper handling of coins in line with its legal mandate to protect the integrity of Philippine currency.

“Proper handling of coins helps maintain their structural integrity, which also promotes vigilance against their unlawful use,” BSP Governor Benjamin E. Diokno said.

Since the production and continuous circulation of fit and high-quality coins are a public investment, all are enjoined to use coins, whenever appropriate, to pay for goods and services; exchange or deposit unused coins in banks instead of keeping them in storage, and maintain the cleanliness of coins.

The public may exchange or deposit unfit coins, while coins of doubtful authenticity may be surrendered to banks for BSP inspection. If deemed unfit, said coins will be withdrawn from general circulation.

The BSP likewise reminds the public that willful defacement, mutilation, burning, or destruction of Philippine coins may be subject to imprisonment of up to five years and a fine not exceeding P20,000.00, pursuant to Presidential Decree No. 247. (PR) – bny

Popular

PBBM underscores public cooperation as key to better disaster response

By Dean Aubrey Caratiquet President Ferdinand R. Marcos Jr. reiterated his call on the citizenry to remain on constant alert and exercise vigilant measures at...

PBBM lauds eGov app’s impact on Filipinos, hints at upcoming features

President Ferdinand R. Marcos Jr. recognized the indispensable role of the eGov app in fast-tracking and streamlining the digitalization of government transactions and services,...

What’s next for the Marcos admin? Key agencies tackle food security, economic dev’t post-SONA 2025

https://www.youtube.com/live/hXRnysWZ6SM?si=GGc-0MxxrP1SXsvE By Brian Campued President Ferdinand R. Marcos Jr. has reported the situation of the country—along with his administration’s progress, gains, and challenges in the past...

PBBM lauds improvements in PH labor market

By Dean Aubrey Caratiquet President Ferdinand R. Marcos Jr. praised the wide-ranging achievements made by his administration on bolstering the country’s domestic labor market over...