THE Bangko Sentral ng Pilipinas (BSP) Visayas Regional Office (VRO) offered currency exchange services in Tagbilaran City to encourage the public to replace their unfit banknotes and coins with digital cash. The activity was held on the sidelines of the Paleng-QR Ph Plus launch in the city on Jan. 10, 2023.
The BSP Piso Caravan currency exchange program was conducted for the first time in Visayas to replace unfit money by depositing the equivalent amount to clients’ e-wallets. The BSP VRO staff also assisted those without e-wallets in setting them up.
Juliet Boniel, a fruit vendor at the Tagbilaran City Central Public Market, shared the benefits she experiences using an e-wallet. Boniel said, “Transactions are made easier and hassle-free. Unfit banknotes are soiled, limp, stained, or have faded print, obvious writings, or markings. Meanwhile, unfit coins are those with corrosion or markings.
The BSP Piso Caravan is in line with the central bank’s commitment to preserve the integrity of Philippine currency and promote digital payments to bolster financial inclusion. (PR)