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Libyan-Philippine currency exchange to start

Libyan-Philippine currency exchange to start
The Central Bank of the Philippines, the Bangko Sentral ng Pilipinas (BSP), has announced the reopening of the Libyan dinar(LYD)-Philippine peso(PHP) currency exchange facility for the Overseas Filipino workers (OFWs) displaced by the conflict in Libya.

Such decision allows returning OFWs from Libya and their families to exchange their Libyan dinar into peso up to a maximum equivalent amount of PHP 20,000 per eligible person, reported GMA Network.

It added that the currency exchange can be done at the BSP head office, its regional offices and branches, as well as authorized agent banks.

Noteworthy, the facility was initially available from August 11 to December 11, however, it will remain available for another six months, starting from the working date of the Circular covering its implementation.

GMA Network highlighted that, in order to avail of the facility, the Workers and their families need to “present documentary proof/s of their travel from Libya (original passport or original/certified true copy of the travel document issued by the Philippine Embassy in Tripoli with exit stamp by Libyan authorities and/or authorities from other countries that served as exit points for repatriation).”

Photo Credit: Arabianeye-Reuters