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COIN PRODUCTION In
2004, the BSP minted 1.195 billion coins in five denominations — 10 Pesos, 5
Pesos, 1 Peso, 25 Centavos, 10 Centavos, and 5 Centavos — for general
circulation. Total coin production
declined 11.48% from 2003, when 1.35 billion coins were struck. CURRENCY PRODUCTION 942
million banknotes — representing 88.88% of the year’s 1,059.8 million-note
quota — were printed in 2004. 792.6
million pieces (84.14% of the available notes) were delivered to the BSP’s
Cash Department during the same year. CURRENCY ISSUANCE The
BSP issued P286.91 billion worth of notes and coins to the Philippine banking
system in 2004, 13.97% higher than the 2003 figure of P251.75 billion. Of
the total, P285.51 billion consisted of new and reissued fit banknotes. This figure represents a 14.05% increase
from the P250.34 billion released in 2003. CURRENCY RETIREMENT 482.23
million banknotes worth P75.96 billion were retired or verified as cancelled
by the BSP. These were processed
through its Security Engineer Machine Disintegrator and the online Currency
Verification, Counting & Sorting facility. The total figure is 11.90% higher than the
P67.88 billion worth of notes pulled out of circulation in 2003. SOURCE: Bangko Sentral ng Pilipinas (Central Bank
of the Philippines) 12th Annual Report, Vol. 1, 2004. |
