BOC reiterates rules on currency declaration

THE Bureau of Customs (BOC) reminded the public and travelers to abide by the existing policies on the bringing in and taking out of Philippine and foreign currencies to ensure smooth and transparent processing at all ports of entry and exit.

Under current regulations, travelers are allowed to carry foreign currency, including cash and similar travel funds.

However, when the total amount exceeds US$10,000 or its equivalent in other foreign currencies, the full amount must be declared to the BOC upon arrival or departure.

This declaration may be accomplished through the e-Travel System prior to travel or at designated BOC counters at airports and seaports.

For Philippine currency, travelers may bring into or take out of the country up to ₱50,000 per person without need of prior approval. Any amount exceeding this limit requires written authorization from the Bangko Sentral ng Pilipinas (BSP) and must be properly declared to the BOC.

This rule applies to Philippine banknotes, coins, checks, and other peso-denominated forms of money. Amounts carried in excess of ₱50,000 without the proper authorization shall be subject to confiscation.