BSP advisory on exchanging foreign currencies

The Bangko Sentral ng Pilipinas (BSP) informs the public that it has not issued any directive that US Dollar “[bank]notes with stamps (money changer) will only be accepted until March 12” or any specified date this year.

The BSP advises the public to remain vigilant against bogus information, particularly those circulating on online chat groups, as well as entities that misrepresent the BSP.

Moreover, the BSP clarifies that it does not accept requests for exchange or replacement of foreign currencies to Philippine Peso. BSP’s mandate is limited to the exchange of Philippine currency to Philippine banknotes and coins of any other denomination.

For the exchange or replacement of foreign currencies, the public is advised to visit BSP-supervised financial institutions, such as banks and Money Service Businesses (MSBs) that are engaged in money changing or foreign exchange dealing.

For the list of supervised banks and registered MSBs, visit: https://www.bsp.gov.ph/SitePages/FinancialStability/DirBanksFIList.aspx and https://www.bsp.gov.ph/Lists/Directories/Attachments/12/MSBs.pdf.

For more information on the U.S. currency, the public is encouraged to visit the U.S. Currency Education Program webpage at https://www.uscurrency.gov/  or send their queries through https://www.uscurrency.gov/about-us/contact-us.