Over P700 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of May 15, 2024, as published on their website.
Based on the latest statistics, a total of P707,661,554.41 (over 9% higher than last the previous count of P648,904,160.19) in coins got deposited into BSP machines on 174,656 transactions (about 8% higher than the previous count 161,725 transactions) from customers. In terms of physical quantity, 193,901,254 in coins were deposited. The previous count of deposited coins was 179,641,987.
Doing the math on the latest statistics, customers averaged P4,051.74 per transaction (versus the previous month’s P4,012.39 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.6496 per coin deposited (versus the previous average of P3.6122 per coin deposited).
Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? Did the BSP coin deposit machine in your locality break down often?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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Author Carlo Carrasco 