BSP opens exchange facility for Libyan dinars

THE Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved the opening of a currency exchange facility (CEF) for Libyan dinars (LYD) in line with the government’s efforts to assist overseas Filipino workers (OFWs) returning from conflict-stricken Libya.

In a statement on Thursday, the central bank said the facility will allow OFWs and their families returning from Libya to exchange their Libyan dinars for Philippine pesos because at present, Libyan banknotes are not convertible to pesos.