The Market Monitor Minding the Nation's Business
The Bangko Sentral ng Pilipinas (BSP) has collected P1.372 billion worth of coins through its coin deposit machines (CoDMs) as of March 17, translating to 339.84 million coins from 311,858 transactions.
Launched in June 2023, the CoDM initiative enables users to deposit coins conveniently, with the amount credited to their GCash or Maya e-wallets or converted into shopping vouchers.
The program is part of the BSP’s Coin Recirculation Program, designed to bring idle coins back into circulation to meet the country’s currency needs.
To date, the BSP has deployed CoDMs in partner retail establishments across the Greater Manila Area, including major SM and Robinsons malls.
The central bank continues to encourage the public to use these machines to maximize the value of their idle coins and promote efficient currency circulation.