BSP beefs up drive on unfit bills, mutilated coins in Caraga

By Alexander Lopez

August 21, 2023, 4:04 pm

<p><em>(Image courtesy of the Surigao City PIO)</em></p>
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(Image courtesy of the Surigao City PIO)



BUTUAN CITY – The Bangko Sentral ng Pilipinas in Butuan City (BSP-Butuan) is intensifying its drive in the collection of unfit legal tender banknotes or bills and mutilated coins through a series of Piso Caravans.

The Piso Caravans in the region, which started this month until September started in Surigao City over the weekend, Bank Officer Glizriel Rose Quijada of BSP's Mindanao regional office said in a phone interview on Monday.

Quijada hailed the Piso Caravan in Surigao City after residents in the area positively responded to the call to exchange their unfit banknotes and mutilated coins in booths provided by the BSP during the activity.

“After the Surigao City schedule, the Piso Caravan is set to visit Tandag City and Bislig City in Surigao del Sur next month,” she said.

A total of 300 pieces of unfit legal tender banknotes in different denominations as well as 4,000 pieces of unfit and mutilated coins were collected during the Piso Caravan in Surigao City.

Quijada said the BSP is calling on the public to exchange unfit banknotes, which accumulated dirt or any substance across the surface that results in discoloration, those with apparent markings or writings, limpness or rag-like quality, those with stains and faded prints, and notes with heavy folds or creases.

The mutilated banknotes or coins are those with tears or holes or damaged parts, charred or with decayed portions or missing parts. (PNA)