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BSP opens currency exchange facility for OFWs with Syrian pound

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MANILA, Philippines — The Bangko Sentral ng Pilipinas has opened a currency exchange facility for the Syrian pound to service the foreign-exchange needs of overseas Filipino workers returning from conflict-torn Syria.

The facility will be open for four months, according to the BSP.

Prior to the opening of the facility, the Syrian pound was not convertible to pesos.

With the opening of the facility, OFWs based in Syria who decide to go home due to the conflict in the Middle Eastern country may exchange their currencies either through the BSP’s head office in Manila, its branches, or through various authorized banks.

Each individual is entitled to exchange a maximum amount of P10,000 worth of Syrian pound.

An individual availing himself of the currency-exchange service has to present any document proving his travel from Syria. The document may be his passport or a travel paper issued by the Philippine embassy in Damascus, the capital of Syria.

“The Syrian pound shall be converted to Philippine pesos based on latest available exchange rate at the time of exchange,” the BSP said.

According to Coinmill.com, one Philippine peso is equivalent to 1.75 Syrian pound.

The civil war in Syria involves the armed conflict between those loyal to the government, which is headed by President Bashar al-Assad, and those seeking an end to its five-decade rule.


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Tags: Bangko Sentral ng Pilipinas , business , civil war , Conflict , currencies , foreign exchange , Global Nation , Overseas Filipino workers , Philippine peso , Remittances , Syrian pound

  • kimo211

    mga government  officials,,,  sana  po  naman   ay  protection   naming  mga  balikbayan/ofw,,,pagdating   sa  airports,,,sa  pag  sakay  nang  taxi,,, sa  pangungurakot  nang  custom  oficers…dugo  po  ang  pinapawis  namin  sa  kita   nang  dollars,,,  hindi  po  kami   mayaman,,,sana  po  ay  huwag  niyo  kaming,,, holdapin,,,kotongang   at  kikilan,,,sa  airport  po  hindi  pa  po   nakakalabas,,,ay  wala  na  kaming  pamasahe  pauwi   sa aming   probinsiya,,at  pag  sinuwerte  na  makapagtaxi,,,ay   mga   kurakot  na  taxi  driver   at  holdaper  naman  ang  kalaban,,,,mga   bosing  kaunting  tulong  lang  po  protection   lang  po  para  tuloy tuloy   ang  dollar  remittance   sa  PINas.



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