The Bangko Sentral ng Pilipinas (BSP) has teamed up with the Palawan Group of Companies (PGC) to extend the reach of its Piso Caravan program, allowing more Filipinos to exchange damaged or unfit currency for usable bills and coins.
A formal partnership was sealed on 4 February 2025, during a signing ceremony at the BSP headquarters in Manila, where PGC’s leadership committed to supporting the initiative. With over 7,960 locations across the country, the Palawan Group will leverage its expansive remittance network to improve access to financial services, especially in underserved or remote areas.
The Piso Caravan is part of the BSP’s broader coin recirculation program, which aims to boost coin circulation, promote financial literacy, and drive a shift towards digital payments.
“By collaborating with Palawan Group, we can ensure that even the most far-flung communities are included in this financial movement,” said BSP deputy governor Bernadette Romulo-Puyat. “The program aligns with our goal to make financial services more accessible and convenient for millions of Filipinos.”
In addition to facilitating currency exchange, the partnership will focus on educating the public about proper currency handling, fostering a deeper appreciation for the monetary system, and encouraging the circulation of idle coins.
BSP officials highlighted that this initiative isn’t just about maintaining the integrity of the national currency—it also underscores a strategic push toward financial inclusion and responsible financial behavior, especially in a rapidly digitizing economy.
