what is a foreign currency deposit unit?
Post on 17-Nov-2021
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DID YOU KNOW THAT...
WITH A FOREIGN CURRENCY DEPOSIT UNIT:
in foreign currencies
For Individualsup to US$500,000per day
For Corporates/other entitiesup to US$1 millionper day
@BangkoSentralngPilipinas
@BangkoSentral
For inquiries, please contact:INTERNATIONAL OPERATIONS DEPARTMENT
(632) 708-7108iod@bsp.gov.ph @BangkoSentral
www.bsp.gov.ph
The BSP’s liberalized rulesand regulations on foreign
exchange (FX)
FCDU deposits stood atUS$41.3 billion as of
end-June 2019.
MAKES IT EASY FOR RESIDENT FILIPINOS AND INVESTORS TO
TRANSACT
You can deposit your own FX and/or FX purchased from
banks in an FCDU account for eventual remittance to intended beneficiary.
You can buy FX from banks for education, medical and
travel expenses, among others, without supporting
documents.
You can invest in any form of instruments* issued/created by non-residents using your own
FX or FX purchased from banks.
*Excluding foreign currency deposit accounts offshore. Provided that
these comply with applicable Philippine laws, rules and regulations.
DEPOSIT BUY INVEST
FOREIGN EXCHANGEREGULATIONS
FCDU ACCOUNT
www.bsp.gov.ph/downloads/regulations/
fx.asp
CORP.
FCDUBANK
FOREIGN CURRENCYDEPOSIT UNIT?
WHAT IS A
Refers to a unit of a local bank/branch of a foreign bank authorized by the Bangko Sentral ng Pilipinas (BSP) to engage in foreign-currency denominated transactions,
pursuant to Republic Act No. 6426 (the Foreign Currency Deposit Act of the Philippines), as amended.
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