Manila, March 3 -- The Bangko Sentral ng Pilipinas (BSP) said over PHP1.3 billion worth of coins have been deposited through its coin deposit machines (CoDM).

As of Feb. 15 this year, the total coin collection amounted to PHP1.308 billion.

The amount is equivalent to 326.18 million pieces of coins from 299,457 transactions.

Launched on June 20, 2023, the CoDM project allows customers to conveniently deposit their legal tender coins to be credited to their GCash or Maya electronic wallet accounts, or converted into shopping vouchers.

The coin deposit machines support the BSP's Coin Recirculation Program to put idle coins back in circulation to serve the country's currency needs.

To date, the BSP has deployed CoDMs in partner retail es...