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OFWs may change Libyan currency

/ 05:15 AM March 01, 2015

MANILA, Philippines–Overseas Filipino workers (OFWs) displaced by the conflict in Libya may exchange their Libyan dinar into pesos until July after the Bangko Sentral ng Pilipinas (BSP) reopened its currency exchange facility, according to Labor Secretary Rosalinda Baldoz.

In a statement, Baldoz said the BSP issued Circular No. 867 which approves the reopening of the Libyan dinar currency exchange facility for OFWs repatriated from Libya for another six months, or until July 29.

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BSP Circular No. 867, dated Jan. 14, allows the conversion of Libyan dinar to Philippine pesos up to a maximum equivalent amount of P20,000.

The facility was initially available from Aug. 7 to Dec. 9, 2014, under BSP Circular No. 843.

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“We are very conscious about the hurried manner by which our OFWs have left Libya. They might have forgotten to exchange their Libyan money for acceptable currency, such as US dollars. Thus, we made this representation with the BSP to revive its special foreign exchange facility for the conversion of Libyan dinars into pesos as this will certainly help our OFW repatriates,” Baldoz said.

The exchange may be done through the BSP head office, its regional offices and branches, as well as authorized agent banks.

To avail of the facility, OFWs and their family members are required to present documentary proof 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.–Tina G. Santos

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TAGS: currencies, forex, Libya, Libyan dinar, ofws, Overseas Filipino workers, Philippines, Rosalinda Baldoz
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