NOTICE ON BANGKO SENTRAL NG PILIPINAS’ CROSS BORDER TRANSFER OF LOCAL CURRENCY

The Bangko Sentral ng Pilipinas (BSP) through the Philippine Consulate General in Chongqing, wishes to inform all Filipinos under the Consulate’s jurisdiction that as part of the BSPs continuing efforts to keep its regulations attuned to the needs of the country’s growing economy, including providing greater flexibility to travelers to and from the Philippines, the Monetary Board has  approved the issuance of Circular, Circular No. 922 Series of 2016, increasing from PhP 10,000.00 to PHP 50,0000 the amount of legal tender Philippine currency that may be imported/brought in and/or exported/brought out of the country physically or electronically without prior authorization from the BSP. The new policy is effective since 15 September 2016.

A copy of the said circular is attached for further reference.