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BSP Calls for Multisectoral Support to Recirculate Coins

04.05.2010

Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo (center, left) called for the support of all economic sectors and the general public in ensuring the regular and efficient recirculation of coins to facilitate transactions. While there are 15.6 billion pieces of coins circulating in the country with a total value of nearly P17 billion, consumers still complain that they do not receive exact change. He said it is in everybody’s interest to help coins circulating regularly, by accepting coins as payment and not keeping it imprisoned inside drawers. Heads of major retail organizations, transport groups, petroleum dealers, banks, tollways, vendo machines and the church pledged to cooperate in accepting and circulating coins. Also in photo are: from left, BSP Managing Director Pete Tordilla and BSP Director Fe de la Cruz; (below right) Pondo ng Pinoy’s Bishop Deogracias Iniguez and Executive Director Ernesto Lim; (upper right, from left) Philippine Amalgamated Supermarkets Association, Inc. President Steve Cua; Philippine Association of Supermarkets, Inc. Secretary General Federico Ples; Philippine Retailers Association Vice Chairman Mars Chua and PRA Chairman Jorge Mendiola. Also present were Petron Dealers Association officers led by Chair Ruth Marbibi, Beth Tan, and Martin Favila and BSP Directors Violy Mejia, Olive Vital and Consultant Rory Cruz. Retail outlets and tollways said they need more coins to support their operations while the church representatives, vendo outlets, jeepney and bus operators as well petroleum dealers said they can exchange coins with retail outlets. 

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