BSP: “The unnecessary accumulation of banknotes and coins prevents Philippine currency from being recirculated and used as payment instrument.” BSP — The Bangko Sentral ng Pilipinas warned the public that storing their money in containers could cause an “artificial shortage”. On Wednesday, the central bank urged the public to deposit their savings in formal accounts … Read more
The BSP wanted stiffer sanctions and penalties against coin hoarders and counterfeiters. BSP — The Bangko Sentral ng Pilipinas was proposing a more rigid package of sanctions and penalties against currency counterfeiting and to criminalize the stockpiling of large amounts of coins. According to BSP Governor Benjamin E. Diokno, they’re currently conducting preparatory work, which … Read more
Customer Pays Delivery Rider w/ Coins After Ordering Mobile Phone A male customer paid a bulk of coins to the delivery rider who delivered the mobile phone he ordered online. Over the past few years, online shopping websites are very popular not only in the Philippines but also in different countries all around the world. Many … Read more
2 Banks Suffered Major Headache Counting Bucket w/ 9,999 Coins Brought by Newly-Wed Couple Two banks take seven hours to count a huge bucket containing 9,999 coins brought by a couple in China’s Henan Province. Last November 15, 2021 (Monday), a man named Jiang brought a huge bucket containing 9,999 1-yuan coins he and his … Read more
The BSP was assuring the public of sufficient supply of banknotes for the holidays. BSP — The Bangko Sentral ng Pilipinas was assuring the public that there’s an adequate supply of new coins and banknotes in anticipation of the higher currency demand during the holidays. According to BSP Governor Benjamin Diokno, the peak of currency … Read more