LINGAYEN, Philippines – The Bangko Sentral ng Pilipinas (BSP) has hailed the provincial government of Pangasinan for implementing a coin re-circulation program.
Gov. Amado Espino Jr. thanked the local government offices, hospitals, and non-government organizations for their support.
In 2013, the provincial government worked with the BSP for the implementation of the currency program through the “Coins for Three” activity.
For every 50 coins of each denomination (5, 10 and 25 centavos) that an individual surrenders, he or she gets a certificate of participation, a fruit-bearing tree and the value of the coins submitted.
BSP’s coin re-circulation program was created in March 2005 by the Currency Management Committee to address problems regarding the circulation of Philippine currency.
The program aimed to address coin shortage, non-circulation of coins and the need for the BSP to produce more coins.
Aside from Pangasinan, other awardees included the Lucena Bankers Association, Department of Education of Oriental Mindoro Division, Skills Enhancement and Learning Center in Western Visayas, Bank of Philippine Islands in Central Visayas, Zamboanga City Bankers and Financiers Association, and Land Bank of the Philippines in Central Mindanao.