A currency exchange facility for returning Filipinos from Ukraine is being opened in the Philippines.
The Bangko Sentral ng Pilipinas (BSP) has set up a Ukrainian Hryvnia (UAH)-Currency Exchange Facility (CEF) as part of the BSP’s initiative to help overseas Filipinos (OFs) affected by the Russia-Ukraine conflict.
BSP Governor Benjamin E. Diokno said the facility is liquidity assistance for returning OFs.
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The facility allows returning OFs from Ukraine and their families to exchange their UAH holdings for pesos.
“The BSP considers the repatriation of OFs due to armed conflict to be of national interest. Our OFs are new heroes and key contributors to the Philippine economy. In line with this, the BSP will provide assistance to the OFs, particularly those affected by the armed conflict in Ukraine,” said Diokno.
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OFs and their family members shall present documentary proofs of travel from Ukraine like original passport or original/certified true copy of the travel document issued by the Philippine Embassy in Poland with exit stamp by Ukrainian authorities and the initiative is part of the central bank’s sustained efforts to help those affected by emergencies or unforeseen problems.
The OFs need to convert their UAH holdings through an authorized representative and the amount of UAH that may be exchanged will not be more than P20,000 per person, “except for highly meritorious reasons and subject to BSP approval,” authorities said.
