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.
To avail of the facility, OFs and their family members shall present documentary proof/s of the OFs’ travel from Ukraine (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/or authorities from other countries that served as exit points for repatriation). The exchange may be done through the BSP Greater Manila Regional Office (Head Office), BSP Regional Offices and Branches, as well as authorized agent banks.
The facility is open to returning OFs from 18 February 2022 onwards and will be available for four (4) months starting from the effectivity date of the Circular covering its implementation.
The implementing Circular will take effect five (5) banking days after its publication.