In an effort to increase coin circulation nationally, the Bangko Sentral ng Pilipinas (BSP) and its retail partners recently installed Coin Deposit Machines (CoDM) in various mall outlets throughout the country. The initiative aims to persuade the public to conveniently deposit their unneeded coins at exchange facilities that are conveniently positioned in a few malls. […]
For brief periods, the Bank of the Philippine Islands (BPI) would forgo transfer costs for modest InstaPay transactions conducted using its mobile application. Fees for a cartload of groceries worth up to P1,000 is already free if paid using BPI’s mobile app According to a news story posted on its website, no costs will be […]
This year’s headline inflation decelerated further to 5.4 percent year-on-year in June from 6.1 percent in May, settling near the lower end of the Bangko Sentral ng Pilipinas (BSP)’s forecast range of 5.3 to 6.1 percent for the month. The resulting year-to-date average of 7.2 percent, however, it is still above the government’s average inflation […]
The Museo ng Bangko Sentral ng Pilipinas (BSP) in partnership with the National Historical Commission of the Philippines opened the exhibit “Minting the Revolution, Forging a Nation: Highlights from the BSP Numismatic Collection” last June 12, 2023, at the Museo ni Emilio Aguinaldo in Kawit, Cavite. The exhibit is open to the public from 9 a.m. […]
President Ferdinand R. Marcos, Jr. and Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla led the recent launch of the commemorative coin set for the 125th Anniversary of Philippine Independence and Nationhood (APIN) held at the Malacañang Palace. The newly issued BSP Commemorative Coin Set (www.bsp.gov.ph) The BSP issued the coin set with 100-Piso, […]
The Bangko Sentral ng Pilipinas (BSP) has signed a memorandum of agreement (MOA) with the Technical Education and Skills Development Authority (TESDA), and BDO Foundation on the development of a free online course on personal finance. In a media advisory, the BSP said that the agreement with TESDA and BDO Foundation aims to boost the […]
by Bhea Baarde, Correspondent Starting next year, financial institutions will be required to digitalize the majority of their payment options and financial services as part of the Bangko Sentral ng Pilipinas (BSP)’s Digital Transformation Roadmap, which aims to promote financial inclusion and digitalization of payments in the country. Of all the financial service providers here […]
With PESONet and InstaPay’s fast growth due to lockdowns during the pandemic, the Banko Sentral ng Pilipinas (BSP) has designated the two major digital fund transfer systems as Prominently Important Payment Systems (PIPS). BSP closely supervises and monitors PIPS pursuant to the National Payment Systems Act to protect the economy and the public. PIPS refers […]
“The Philippines’ economic prospects are bright. We will probably be the fastest-growing country in the ASEAN region in the next two years and the second-fastest in the Asia-Pacific region, after India,” beamed Benjamin Diokno, former BSP chief and now Secretary of Finance. Diokno said that in spite of higher public debt, the country’s overall economic […]
Reports circulating on social media about a new Philippine coin series have reached the Bangko Sentral ng Pilipinas (BSP), and it was quick to clarify that no such new issuances have been made. “The Bangko Sentral ng Pilipinas informs the public that it has not released a new Philippine coin series,” a statement from the […]
