Termination of the Libyan Dinar Currency Exchange Facility
MEMORANDUM NO. M-2011-026
To: All Banks
Subject: Termination of the Libyan Dinar Currency Exchange Facility
In view of the decline in transactions involving conversion of Libyan dinars into Philippine pesos, the Monetary Board, in its Resolution No. 626 dated 28 April 2011, decided to terminate the Libyan dinar Currency Exchange Facility (CEF) for returning OFWs from Libya effective 1 July 2011. The BSP Cash Department, BSP Regional Offices and Branches, and authorized agent banks, shall no longer accept Libyan dinars for conversion to pesos starting said date.
Please be guided accordingly.
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