Exchange rate

[aromulus]

hi all is there any limits to the amount of pesos you can leave philippines with or no limits ?

I don't see the point in taking currency out of Phil.
I don't think you can exchange it in Europe. But i think that there is a limit...

Yup, there is....

Frequently Asked Questions:

Banknotes and Coins

September 2007

Cash Department

5

18.

What is the restriction on currency import/export for Philippine Peso notes and
coins?

Any person can bring in and out of the country legal tender notes and/or coins in the
amount not to exceed P10,000.00 as provided for under BSP Circular No. 98, Series

1995. Larger amounts require authorization from the BSP.

Sorry to burst your bubble.

[joebloggs]

well i would rather keep what little cash i have in secure £'s than the php, i wonder if the philippine gov would or even could bail out any struggling banks there, while here the gov just gives them a loan from the taxpayer

[fred]

well i would rather keep what little cash i have in secure £'s than the php, i wonder if the philippine gov would or even could bail out any struggling banks there, while here the gov just gives them a loan from the taxpayer

The government PDIC guarantee 250,000 Pesos if a bank on their list goes under.
You can place that amount in different accounts such as a joint accounts etc which will be covered as a separate acct.
I have not heard of an instance when this guarantee has failed to pay out.

[andypaul]

The government PDIC guarantee 250,000 Pesos if a bank on their list goes under.
You can place that amount in different accounts such as a joint accounts etc which will be covered as a separate acct.
I have not heard of an instance when this guarantee has failed to pay out.

Do many Phill banks fail? I think i read about one in trouble when over once, but don't know if it sorted out or not as their are so many over there i only know the big names.