Banks limit forex sales

By Eileen Mencias
Some banks have begun to limit the sale of foreign currencies to customers.
One depositor told Bilyonaryo.com that she tried to buy dollars from the Bank of Philippine Islands and Land Bank of the Philippines last week but was declined.
BPI said the client involved did not provide a valid reason to sell dollars to an account holder.
However, they can sell if the account holder produces an airline ticket for travel abroad, and an itinerary.
LandBank said it would only sell dollars and other foreign currency if depositors could show proof that the the dollars would be used for travel purposes.
Another depositor, a former overseas Filipino worker, wanted to buy dollars from another bank to be deposited to her account but was also declined.

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