The Bangko Sentral ng Pilipinas (BSP) continued to exchange the public’s unfit banknotes and coins for digital cash as its “Piso Caravan” reached Lapu-Lapu City on 17 February 2023 in ceremonies attended by Lone District of Lapu-Lapu Representative Cynthia Kin-Chan and Mayor Junard Q. Chan.
Held on the sidelines of the Paleng-QR Ph Plus launch in the city, the caravan aims to exchange unfit money for digital cash while encouraging residents to use digital financial services.
“Natutuwa po kami sa programang ito kasi yung mga pera namin na luma ay napalitan na ng bago,” said Lynlyn Pahamtang, one of the locals who visited the BSP booth to exchange their unfit banknotes.
Staff from the BSP Visayas Regional Office (VRO) led the caravan and assisted clients in setting up electronic wallet accounts. The personnel also helped deposit the equivalent amount of currencies exchanged to the residents’ electronic wallets.
Unfit banknotes are dirty, soiled, limp, stained, or have faded print and obvious writings. Meanwhile, unfit coins are those with corrosion or markings.
The caravan is part of the BSP’s broader efforts to preserve the integrity of Philippine currency as well as to promote digitalization and financial inclusion.
For more information on the BSP Piso Caravan and other public information campaigns in the Visayas, contact the Regional Economic Affairs Staff of the BSP VRO at telephone no. (032) 254-9368 or email address AOville@bsp.gov.ph.