DAGUPAN CITY (PIA) – The Bangko Sentral ng Pilipinas (BSP)-Dagupan Branch will receive Philippine coins of different denominations and exchange them with bills in a coin exchange activity on October 29 (Saturday) from 9a.m. to 2p.m.
Gomer Gomez, BSP North Luzon Regional Office senior research specialist, said “This is part of the Bangko Sentral’s effort to flush out coins in storage, such as the coins being stored in piggy banks, and promote the importance of coins as it is more expensive for the government to mint coins.”
He added that the activity seeks to generate behavioral change by making it a habit for the public to use and accept coins and to help comply with Republic Act (RA) No. 7394 or the “Consumer Act of the Philippines” and RA No. 10909 or the “No Shortchanging Act of 2016” which prohibits entities from giving insufficient change or giving of change other than money.
Gomez urged the public to bring their coins, especially the lower denomination, to the BSP booth at the atrium of CSI Mall Dagupan in Lucao District here and have a chance to exchange them with bills.
Aside from coins exchange, the BSP will offer free brochures and posters on currency and financial literacy.
Kids are also encouraged to come in their Halloween costumes for the trick or treat as free chocolates and candies will be given to them for every coin exchange.
BSP will likewise give a token for every 100 pieces of fit one cent, five cents, and/or 25 cents exchange. (PIA Pangasinan) BY: APRIL M. MONTES-BRAVO
