OFWs can now exchange Syrian currency into pesos


Posted at Jan 16 2013 12:55 PM | Updated as of Jan 16 2013 08:55 PM

MANILA, Philippines - Filipino workers who have been repatriated from war-torn Syria can now change their Syrian currency for Philippine pesos but only for a limited period. 

The Monetary Board has approved the opening of a currency exchange facility that would allow OFWs to exchange Syrian currency into pesos.

Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said the facility was established to help OFWs displaced by the conflict in Syria. 

At present, Syrian money cannot be converted to pesos.

Under the facility, OFWs and their families will be allowed to exchange their Syrian pounds to Philippine pesos for a maximum equivalent amount of not more than P10,000 per person. 

The Syrian pounds will be converted to pesos based on the latest available exchange rate at the time of the exchange. 

They can exchange their money through the BSP head office, BSP regional offices and branches, as well as authorized agent banks. 

OFWs and their family members should present documents as proof of their travel from Syria, such as a passport or travel document stamped with an exit visa by Syrian immigration authorities.

The BSP said the facility is open for OFWs who returned from Syria from January 1, 2012. 

The facility will be available for a period of four months from the effectivity of the circular, which was published on January 10, 2013.

As of January 15, the number of Filipinos repatriated from Syria is at 3,349.