THE Bangko Sentral ng Pilipinas (BSP) has replaced P4 million worth of the public’s unfit banknotes and coins with fresh bills or digital cash under its “Piso Caravan” held in the Visayas from January to October this year.
A total of 38,917 pieces of unfit banknotes worth P2,787,180 and 683,153 pieces of unfit coins worth P1,722,892.04 were exchanged under the 24 caravans conducted in the cities of Cebu, Mandaue, Tagbilaran, Dumaguete, Iloilo, Bacolod, Tacloban and Roxas as well as in the municipalities of Consolacion, Dalaguete, Oslob, Siquijor and Kalibo.
Most of the unfit denominations submitted for replacement were the 20-piso banknotes (28,284 pieces) and 1-piso coins (262,824 pieces). The BSP will roll out more caravans in the Visayas.