Clean Note and Coin Policy: Awareness, Practices, and Challenges for an Enhanced Implementation

Abstract

Unfit and contaminated currency in circulation remains a concern in many public markets, particularly in wet markets where money is frequently exposed to water, food products, and unsanitary conditions. The Bangko Sentral ng Pilipinas implemented the Clean Note and Coin Policy to promote proper handling and preservation of Philippine currency. This study examined the level of awareness, practices, and challenges encountered by entrepreneurs in the implementation of the Clean Note Coin Policy at the Teodoro Arcenas Trade Center in Roxas City. Specifically, it determined whether the profile of the entrepreneurs influences their awareness, identified their currency-handling practices, examined compliance challenges, and proposed strategies to enhance policy implementation. This study employed a convergent mixed-method research design involving 199 registered stall owners for the quantitative phase and 10 key informants for the qualitative phase. Data were collected through a validated survey questionnaire and semi-structured interviews. Quantitative data were analyzed using frequency, percentage, mean, and standard deviation, while qualitative data were analyzed through thematic analysis. Findings revealed that entrepreneurs demonstrated a moderate level of awareness of the policy. However, consistent best practices were not fully observed as vendors often prioritized the monetary value rather than the physical condition of currency during transactions. Environmental factors such as exposure to water, product contamination, and the fast-paced nature of wet market transactions were identified as major challenges affecting compliance. Limited awareness and insufficient educational programs affect effective policy implementation. The Bangko Sentral ng Pilipinas and the local government may strengthen information dissemination campaigns, conduct regular financial education activities, and install educational materials within market areas to improve awareness and promote proper currency handling practices.