BSP Piso Caravan_VisayasNews

BSP replaces ‘worn-out’ bills with digital cash in Tagbilaran

Residents of Tagbilaran City were able to exchange their unfit bills and coins for digital cash under the Bangko Sentral ng Pilipinas’ (BSP) program.

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.

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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 boost financial inclusion.

Unfit banknotes are soiled, limp, stained, or have faded print, obvious writings, or markings. Meanwhile, unfit coins are those with corrosion or markings.

In photo: Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat (lcenter) replaces unfit banknotes into digital cash at the currency exchange booth of the BSP Visayas Regional Office (VRO).