Financially Well You by Peggy
15/06/2022
The Bangko Sentral ng Pilipinas (BSP) has encouraged the public to deposit their savings in formal accounts instead of keeping them at home.
“The unnecessary accumulation of banknotes and coins prevents Philippine currency from being recirculated and used as payment instrument,” BSP Governor Benjamin Diokno said.
The BSP said that storing banknotes and coins in containers such as jars, barrels, plastic bottles, and cabinets “hampers the efficient circulation of currency, causing an artificial shortage.”
04/04/2022
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