The Bangko Sentral ng Pilipinas (BSP) revealed online recently that the collection of its coin deposit machines (CoDMs) is gradually approaching the P1.1 billion mark. The latest statistics are accurate of as November 15, 2024.
Based on the latest statistics, a total of P1,082,972,600.36 (7.34% higher than the previous count of P1,008,889,490.24) in coins got deposited into BSP machines on 255,906 transactions from customers. In terms of physical quantity, 280,173,379 coins were deposited.
Doing the math on the latest statistics, customers averaged P4,231.9156 per transaction at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.8654 per coin deposited.
When it comes to the number of coins involved with each transaction, 280,173,379 coins divided by 255,906 transactions resulted in an average of 1,094.8293 coins per transaction. This result shows that a lot of people out there are making big deposits by the jars and bags at the coin deposit machines. I can only speculate that there are families or local businesses that have decided to collect all their loose change for deposit into BSP’s coin machines even if it means waiting long in the line.
Let me end this piece by asking you readers: What is your reaction to this recent development? If you were able to deposit coins in the BSP coin machine, how long did you have to wait for your turn? Did you notice anyone bringing bags or jars full of coins for deposit at the nearest BSP coin machine in your local community?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
+++++
Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco
Author Carlo Carrasco 