The Bangko Sentral ng Pilipinas-North Luzon Regional Office (BSP-NLRO) conducted the “Palit Pera Drive” and “Info Caravan” on 14 August 2022 at Malcolm Square in Baguio City.
The “Palit Pera Drive” facilitated the withdrawal of unfit coins and banknotes from general circulation.
The “Info Caravan,” meanwhile, offered a free seminar on “Know Your Money” to educate the public about the design and security features of Philippine currency. Attendees won special tokens by participating in the caravan’s activities.
The BSP-NLRO also distributed information materials on financial literacy, which is a key advocacy of the BSP. These materials aim to educate the public on the importance of saving, various banking products and services usually encountered in ordinary financial transactions, consumer protection tips on prevention of frauds and scams, and the BSP Consumer Protection Mechanism on how to escalate concerns against BSP-Supervised Financial Institutions (BSFIs).
The BSP-NLRO successfully conducted similar drives in Lingayen, Pangasinan; Capas, Tarlac; Mabalacat, Pampanga; San Fernando, La Union; and Tuguegarao, Cagayan.
The BSP plans to hold the next “Palit Pera Drive” and “Info Caravan” in the province of Aurora.