BSP Rules on the Bringing in and Taking Out of Philippine and Foreign Currency Notes/Coins and other Monetary Instruments 

11 September 2006

"Any person bringing foreign currency and other foreign exchange-denominated bearer negotiable monetary instruments exchange-denominated bearer negotiate monetary instruments (including traveler's checks) in or out of the Philippines in excess of US$10,000 of its equivalent, must accomplish a Declaration Form which may be obtained from, and after accomplishment submitted to, the Customer Desk in the Arrival or Departure Areas. Failure to do so is subject to sanctions.

Also, the bringing in or out of the country of legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in pesos in an amount exceeding P10,000 without authorization by the Bangko Sentral ng Pilipinas  is prohibited."

Said BSP rules are pursuant to BSP Circular No.308 dated 15 November 2001 (Annex A) as amended by Circular No. 507 dated 19 January 2006 (on foreign currency notes/coins/other monetary instruments -Annex B) and Section 4 of Central Bank Circular No. 1389 dated April 1993, as amended by BSP Circular No. 98 dated 11 December 1995 (on Philippine currency/notes/coins/other monetary instruments - Annex C) and the rules and their dissemination to the public concerned have been favorably endorsed by the Executive Director of the Anti-Money Laundering Council.