BSP Donates Bill Counters to BOC for Cross-border Currency Examination

BSP Governor Benjamin E. Diokno (right) signed and executed a Deed of Donation and Memorandum of Agreement with Bureau of Customs (BOC) during a virtual event where 13 multi-currency bill counters with printers were donated to be used at major ports of entry for examination and validation of currencies. The signing ceremony was participated in by BOC Commissioner Rey Leonardo B. Guerrero (left and center) and was witnessed by BSP Deputy Governor Francisco G. Dakila, Jr., BSP International Monetary Affairs and Surveillance Sub-Sector Officer-in-Charge Thomas Benjamin B. Marcelo, Anti-Money Laundering Council Executive Director Mel Georgie B. Racela, BOC District Collector for Collection District III Carmelita M. Talusan, and BOC Deputy Collector for Passenger Service Ma. Lourdes V. Mangaoang.

As part of continued efforts to help in the effective implementation of rules on physical cross-border transfer of currencies, the Bangko Sentral ng Pilipinas (BSP) donated 13 multi-currency bill counters with printers to the Bureau of Customs (BOC) on 27 August 2021. The donation will be used at major ports of entry for examination and validation of local and foreign currencies coming in and out of the country.

“The BOC plays a crucial role in the implementation of regulations on cross-border transfer of currencies as provided under our inter-agency agreements. We hope the 13 multi-currency bill counters, which will automate the existing manual examinations and inventory-taking of currencies, will strengthen the BOC’s capability in this pursuit,” said BSP Governor Benjamin E. Diokno.