PHILIPPINE PREVIEW PP-01-101810

BSP to launch inter-agency coin recirculation contest

CAGAYAN DE ORO CITY--- The Bangko Sentral ng Pilipinas (BSP) here will launch an inter-agency coin recirculation contest on October 1.

The contest aims to develop awareness among government personnel on the Coin Recirculation Program, inform the public on the real situation of coin circulation in the country, and encourage their participation in mitigating the perceived shortage of coins.

The contest also seeks to strengthen currency, particularly coins, in preparation for globalization and regional economic integration.

The inter-agency coin recirculation contest is open to agency members of the Regional Statistical Coordination Committee (RSCC). The agency with the most number of collected coins donated by their employees, regardless whether fit or unift, wins the contest and their chosen beneficiary gets the proceeds.

Participating agencies are required to register and attend the briefing during the contest launching at Limketkai Activity Center.

Agencies must sort collected coins by denomination and by condition. Only low denomination legal tender, 25, 10, 5 and 1 centavo coins collected will be included in the counting.

The contest will run from October 1 until October 24, 2014.

Collected coins must be submitted for counting to BSP Cagayan de Oro branch only on October 27 from 8:00 to 11:00 a.m. Coins will not be accepted before and beyond the allotted schedule.

Top three winners will be awarded trophies during the NSM culminating activity on October 30 while other participating agencies will be given certificates. (PIA-10)