Currency Exchange Facility (CEF) Program of the Bangko Sentral ng Pilipinas (BSP) for Overseas Filipinos (OFs) returning from Ukraine

The ongoing Russia-Ukraine conflict affects the lives of our OFs. As part of the BSP’s initiative to assist OFs displaced/affected by the Russia-Ukraine conflict, the Monetary Board approved the opening of a Ukrainian Hryvnia (UAH) CEF. The facility allows returning OFs from Ukraine and their families to exchange their UAH holdings equivalent to not more than PHP20,000.00 per eligible person, except for highly meritorious reasons and subject to approval of the BSP. With the available program for affected OFs and their families, we would like to encourage the SC-IMD member-agencies to disseminate and promote BSP's program to your respective stakeholders, colleagues, and partner agencies. For more information on the program, please see attached memo and BSP's circular 1145, series of 2022.

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