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Currency supply in ‘Odette’-affected locations is sufficient: BSP

The Bangko Sentral ng Pilipinas (BSP) said the cash supply in the areas hit by Typhoon Odette is sufficient.

The central bank stated on Thursday that despite the lack of electricity and Internet access, all of its offices and branches in the Visayas and Mindanao “continue to properly fulfill the monetary requirements” in the typhoon-affected areas.

“The BSP continues to provide full teller services and is ready to help banks with their currency needs,” the statement added.

The central bank advised banks in the affected areas to “take steps to guarantee that cash is available in their ATMs (automated teller machines) and that the public’s withdrawal needs are met.”

“The central bank is committed to meeting currency demands in typhoon-affected districts to aid quick recovery,” it added.

Typhoon Odette, the biggest storm to hit the Philippines this year, wreaked havoc on sections of the Visayas and Mindanao from December 16 to 18.

Given the destruction to agriculture and infrastructure in the impacted areas, it is projected to have a significant influence on the economy’s recovery.

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