Press & Notices
Frequently Asked Questions
RULES ON BRINGING PHILIPPINE PESOS AND/OR FOREIGN CURRENCIES INTO OR OUT OF THE PHILIPPINES
BSP’s FAQ on Foreign Exchange Regulations
- For Philippine pesos (which include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in pesos against banks operating in the Philippines):
- A person may bring into or out of the Philippines or electronically transfer Philippine pesos not exceeding PHP10,000 without prior approval from the Bangko Sentral ng Pilipinas (BSP).
- For amounts in excess of PHP10,000, prior BSP authorization is required.
- For foreign currency and other foreign-currency-denominated bearer instruments:
- A person bringing in or taking out of the Philippines in excess of US$10,000 or its equivalent in other currencies shall declare the same in writing using the Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form. The form is available at the Bureau of Customs desk at the arrival/ departure areas of International airports and seaports.
- The above rules are applicable to a child travelling with his/her parent/guardian upon Customs inspection; (b) the total amount allocated per person , inclusive of the allotment for the child/children, should not average more than PHP10,000; and (c) allocation of the pesos or foreign currency is explained to the authorities by the parent/guardian.
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