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BSP Re-opens Currency Exchange Facility for OFWs and Their Families Returning from Libya

12.22.2014

As part of the BSP’s initiative to assist overseas Filipino workers (OFWs) displaced by the conflict in Libya, the Monetary Board approved today the re-opening of the Libyan Dinar (LYD) Currency Exchange Facility (CEF). The facility allows returning OFWs and their families from Libya to exchange their LYD holdings to PHP up to a maximum equivalent amount of PHP20,000.00 per eligible person.

To avail of the facility, OFWs and their family members shall present documentary proof/s of their travel from Libya (original passport or original/certified true copy of the travel document issued by the Philippine Embassy in Tripoli with exit stamp by Libyan authorities and/or authorities from other countries that served as exit points for repatriation). The exchange may be done through the BSP Head Office, its Regional Offices and Branches, as well as authorized agent banks.
 
The facility was initially available from 11 August to 9 December 2014 and will remain available for another six (6) months starting from the effectivity date of the Circular covering its implementation.

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