OFWs from Libya can still Exchange Dinars to Pesos
MANILA, Philippines – The Bangko Sentral ng Pilipinas has approved the re-opening of the Libyan Dinar Currency Exchange facility for overseas Filipno workers who have been repatriated from Libya.
Labor and Employment Secretary Rosalinda Dimapilis-Baldoz said the BSP is re-opening the currency exchange facility for OFWs from Libya for another six months or until 29 July 2015.
Last Janury 14, Baldoz sent a letter to BSP Governor Amando M. Tetangco requesting for the extension of the currency facility.
The facility was opened last August 7, 2014 and expired on December 9, 2014. It allowed OFWs from Libya to convert their Libyan Dinars to Philippine pesos to an amount equivalent to not more than P20,000.
“We are very conscious about the hurried manner by which our OFWs have left Libya. They might have forgotten to exchange their Libyan money for acceptable currency, such as US dollars. Thus, we made this representation with the BSP to revive its special foreign exchange facility for the conversion of Libyan dinars into pesos as this will certainly help our OFW repatriates,” Baldoz said.
OFWs and their family members should bring documentary proof of their travel from Libya, such as a passport or original/ certified true copy of the travel document issued by the Philippine embassy in Tripoli with an exit stamp by Libyan authorities or authorities from other countries that served as exit points for repatriation.
OFWs can go to the BSP headquarters in Manila, as well as regional branches in La Union, Cebu, and Davao; and smaller branches in San Fernando, Pampanga; Batac, Ilocos Norte; Tuguegarao, Cagayan; Dagupan, Pangasinan; Cabanatuan, Nueva Ecija; Lucena City, Quezon; Naga, Camarines Sur; and Legaspi, Albay where foreign currencies can be exchanged or converted.
The BSP had opened a similar currency exchange facility during the Libyan conflict in 2011.
As of February 21, the Overseas Workers Welfare Administration said 4,603 OFWs have been repatriated from Libya.
The Department of Foreign Affairs has placed Libya under Alert Level 4, which means mandatory repatriation for Filipinos in the country.