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Bangko Sentral Ng Pilipinas: Regulations On Cross-Border Transfer Of Local And Foreign Currencies
The Bangko Sentral ng Pilipinas (BSP) provides the rules for the cross-border transfer of local and foreign currencies.
A person may freely bring into or out of the Philippines, or electronically transfer, legal tender Philippine currency up to PHP50,000 only. Amounts in excess of the PHP50,000 limit shall require: (a) prior written authorization from the BSP; and (b) in case of physical cross-border transfer of Philippine currency, declaration of the whole amount brought into or out of the Philippines using the prescribed Currencies Declaration Form (CDF).
A person may freely bring into or out of the Philippines foreign currency and other foreign currency-denominated bearer monetary instruments in amounts up to USD10,000 or its equivalent in other foreign currencies. The whole amount exceeding the USD10,000 threshold shall require declaration using the CDF.
For more details, you can download the BSP Manual of Regulations on Foreign Exchange Transactions (as amended):
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Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
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