Rules on bringing Philippine pesos and/or foreign currencies into or out of the Philippines:

Rules on bringing Philippine pesos and/or foreign currencies into or out of the Philippines:

1. For Philippine pesos (which include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn In pesos against banks operating in the Philippines):
a. A person may bring Into or out of the Philippines or electronically transfer Philippinepesos not exceeding PHP10,000 without prior approval from the Bangko Sentral ngPilipinas {BSP).
b. For amounts In excess of PKP10,000,prior BSP authorization Is required.

2. For foreign currency and other foreign-currency-denominated bearer instruments:
a. A person bringing In or taking out of the Philippines in excess of US$10,000 or its equivalent in other currencies shall declare the same in writing using the Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form . The form Is available at the Bureau of Customs desk at the arrival/departure areas of International airports and seaports. It may also be downloaded from the BSP website {Annex K of the Manual of Regulations on Foreign Exchange Transactions).

3. The above rules are applicable to a child travelling with his/her parent/guardian provided that (a) the child is physically present with the parent/guardian upon Customs inspection;(b) the total amount allocated per person inclusive of the allotment for the child/children should not average
more than PHP10,000; and (c) allocation of the pesos or foreign currency Is explained to the authorities by the parent/guardian.

For more information please click here