Bangko Sentral opens forex facility for Filipinos returning from Ukraine

ABS-CBN News

Posted at May 17 2022 10:00 AM | Updated as of May 17 2022 11:07 AM

An employee of an exchange office replaces numbers on the rate board in downtown Kiev, Ukraine, 07 February 2017. SERGEY DOLZHENKO, EPA-EFE/File
An employee of an exchange office replaces numbers on the rate board in downtown Kiev, Ukraine, 07 February 2017. SERGEY DOLZHENKO, EPA-EFE/File

MANILA - The Bangko Sentral ng Pilipinas is opening a currency exchange facility (CEF) for overseas Filipinos and their families who are coming back from Ukraine.

"As part of the BSP’s initiative to assist overseas Filipinos displaced/affected by the Russia-Ukraine conflict, the Monetary Board approved the opening of a Ukrainian Hryvnia (UAH) CEF," the central bank said in a statement.

Through the facility, returning overseas Filipinos from Ukraine as well as their families will be able to exchange their UAH equivalent to not more than P20,000 per eligible person, except for highly meritorious reasons and subject to the approval of the BSP.

To avail, eligible applicants must present the following:

• documentary proof of travel from Ukraine (original passport)
• or certified true copy of travel document issued by the Philippine Embassy in Poland with exit stamp by Ukrainian authorities or other countries that served as exit points for repatriation

The exchange may be done in BSP head office, regional offices and branches as well as authorized banks, the central bank said.

In March, the Department of Foreign Affairs ordered mandatory repatriation after Russia launched military action to invade Ukraine.

The facility will be available for a limited time, the BSP said.

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