BSP urged to delay release of new P5 coin until April

Sen. Nancy Binay appealed anew on Tuesday for the Bangko Sentral ng Pilipinas (BSP) to delay the issuance of the new P5 coin until April when it had done a massive information campaign on the new generation coins whose shape and size were confusing.

“We’re asking the BSP to first elevate the level of awareness of the public through mass media and use all information channels until April,” Binay said on her Twitter page.

Binay said the four-month delay in the issuance of the new P5 coins, which resemble the P1 coin, “would give everyone enough time to prepare for the changes.”

She stressed that the new P5 coins had impact particularly on public transportation like buses and jeepneys.

She urged the BSP to come out with posters of the new generation coins in public places like tricycle and bus terminals as well as public markets.

The BSP released the new P5 coin on Dec. 1, 2017 and planned to release other newly designed coins this month.

The five-peso silver coin is similar in shape and size to the one-peso BSP coin. —Christine O. Avendaño