Issue of November 12, 2017
     
NEWS
Benguet
Kalinga
Mt. Province
 
OPINION
 

2017
Panagbenga Flower Festival
 
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Coins exchange desk to open
by Rimaliza A. Opiña

Time to break those coin banks and have your loose change exchanged at the Bangko Sentral ng Pilipinas.

The BSP La Union regional office will open a coin exchange counter at its Baguio gold buying station at the RCBC building, Session Road.

From Nov. 14 until Dec. 22, idle coins may be exchanged. The program is the BSP’s way of recirculating coins.

The coin exchange counter is open every Tuesday, Wednesday, and Friday from 2 to 4 p.m.

The coins to be exchanged must be free of adhesive tape and segregated per denomination.

Since 2005, the BSP created a Currency Management Committee to address problems arising from the circulation of Philippine currency.

The committee was created to address the perceived shortage of coins in some regions of the country; to address indications that coins are not being recirculated effectively; and the need for the BSP to produce more coins which would translate into significant costs because coin production entails negative seigniorage, or the intrinsic value of the coin is greater than its nominal value especially for the lower-denominated coins.

Meanwhile, the BSP established a new deadline for the exchange of the new design series banknotes to the new generation currency banknotes. The extension is in response to public clamor.

The exchange shall be accommodated without charge at the BSP Cash Departments in Manila and Quezon City branches.

The BSP will replace for a maximum amount of P100,000 per transaction. Exchange of larger amounts may be allowed but payable only by check or direct credit to a bank account.


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Venus Parkview Hotel

Congressman Mark O. Go
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Kings College of the Philippines
Lepanto Consolidated Mining Company
Mayor Mauricio G. Domogan
Narda’s Handwoven Arts & Crafts Inc.
Philex Mining Corporation
Pines City Colleges
Province of Benguet
Sangguniang Panlungsod
SiTEL
SM City Baguio
Social Security System

Assumption Medical Diagnostic Center
Baguio Center Mall
Baguio Central University
Baguio Heart and Lung Diagnostic Center Inc.
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C & Triple A Supermart
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Curamed Pharmacy
Data Center College of the Philippines of Baguio City Inc.
Department of Agriculture – CAR
Department of Environment and Natural Resources – CAR
Department of Trade and Industry – CAR
Department of Transportation – CAR
Easter College Incorporated
Fabulo Beauty and Image Salon
Fast East Pacific Commercial
Filipino–Japanese Friendship Association of Northern Luzon, Inc.
GMS Technology
Immigration Network Services, Inc.
La Funeraria Paz, Inc.
Maybank
Mayor Romeo K. Salda
MMS Development Training Center Corporation
Mother Earth Deli Basket
National Economic & Development Authority–CAR
NIIT
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Philippine Science High School – CARC
R.A. Gapuz Review Center
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STI
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