NextGen Day

MANILA – The Monetary Board approved the opening of a Ukrainian Hryvnia (UAH) currency exchange facility as part of the BSP’s initiative to assist overseas Filipinos (OFs) affected by the Russia-Ukraine war (CEF).

Except for exceptionally deserving reasons and subject to BSP clearance, the provision permits returning OFs from Ukraine and their family to swap their UAH assets for a maximum of PHP20,000 per qualified individual.

OFs and their families must present documentary proof of their travel from Ukraine, such as an original passport or an original/certified true copy of a travel document issued by the Philippine Embassy in Poland, with an exit stamp from Ukrainian authorities and/or authorities from other countries that served as repatriation exit points.

The BSP Greater Manila Regional Office, BSP Regional Offices and branches, as well as approved agent banks, are all available for the exchange.

The facility will be open to returning OFs starting on February 18, 2022, and will be available for four months after the Circular covering its implementation becomes effective.

The implementing Circular becomes effective five banking days after it is published.

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