Currency supply in ‘Odette’-hit areas enough: BSP

The currency supply in areas devastated by Typhoon Odette remains sufficient, the Bangko Sentral ng Pilipinas (BSP) said.

This was the assurance given by the central bank on Thursday, saying all its offices and branches in the Visayas and Mindanao “continue to fully service the currency requirements” in the typhoon-hit areas despite the issues on electricity and Internet connection.

“The BSP also continues to provide full tellering services and stands ready to assist banks in their currency needs,” it said.

The central bank urged banks in the areas “to carry out measures to ensure the availability of cash in their ATMs (automated teller machines) and to service the public’s withdrawal needs.”

“The central bank is committed to meeting currency demands in typhoon-struck provinces to support the immediate recovery of affected areas,” it added.

Typhoon Odette, considered the strongest to hit the country so far this year, ravaged parts of the Visayas and Mindanao from December 16 to 18.

It is expected to have a big impact on the economy’s recovery, given the devastation on agriculture and infrastructure in the affected areas.

Source: Philippines News Agency

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