Why re-circulating coins is vital to our economy

he Bangko Sentral ng Pilipinas (BSP) has called on the public to re-circulate coins for it plays a very important role in the country’s economic activity.

In a statement released by Malacanang on Aug. 1, , BSP Deputy Governor Diwa Guinigundo said that coins are equally important like the paper bank notes in circulation.

She also confirmed that there was no shortage of coins in the country, but coins are being stored in people’s pockets or at home, which stops the circulation process.

Guinigundo also pointed out that short-changing or not giving exact change due to lack of coins is illegal.

In 2017, BSP is about to change the current Philippine currency coins in circulation which will have safety measures against counterfeiting.

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