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The Bangko Sentral ng Pilipinas (BSP) will temporarily suspend the operation of its coin deposit machines in Metro Manila and nearby areas starting June 17, 2025.
The Bangko Sentral ng Pilipinas (BSP) will be temporarily suspending the operation of its coin deposit machines in Metro Manila and nearby areas starting June 17.
The central bank is reviewing its strategies to recirculate idle coins in the economy.
The BSP said the machines will no longer accept coins starting June 17.
Since the launch of the machines in June last year, the BSP has collected about P1.5 billion worth of coins.
In November last year, the BSP awarded bids for the deployment and lease of 50 coin deposit machines in the country over a three-year period—six months for deployment and 30 months for actual lease.
The initiative was part of the BSP’s currency recirculation efforts.
The central bank allocated a budget of P351.6 million for the initiative.
As of May, 25 coin deposit machines had been installed in malls across Metro Manila.
The BSP said the public may also deposit coins in banks where they maintain accounts.
Unfit coins—those that are deformed or defaced—may be exchanged at any bank, regardless of account status.
“Unfit coins may be presented for exchange at any bank as part of their duty to promptly remove unfit currency from circulation,” the BSP said.
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