Central Banking

Filipino central bank launches exchange facility for nationals fleeing Syria

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The Central Bank of the Philippines has announced the launch of a temporary currency exchange facility that will allow Filipino workers fleeing the conflict in Syria to convert Syrian pounds to Philippine pesos in a four-month window.

The two currencies are not currently convertible, but according to a statement published today (January 16), under the new facility Filipino workers and their families will be able to exchange up to 10,000 pesos ($246) per person. Anyone wishing to make the

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