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For your reference and guidance, attached is a copy of Dispatch No. BU-ACP-51-94 from the Philippine Embassy in Bucharest reporting on Romanian Standard rules on foreign exchange and lei import and export limits as transmitted to the Governor of the Bangko Sentral ng Pilipinas on November 29, 1994 by DFA Assistant Secretary Jose A. Zaide, Jr. of the Office of the European Affairs.

Adopted: 13 Dec. 1994

(SGD.) EDGARDO P. ZIALCITA
Deputy Governor

Standard Rules on Foreign Exchange and Lei Import and Export Limits

A.
Foreign Currency

1. Upon entry into Romania - Natural persons and those representing legal persons, whether of Romanian or foreign citizenship, must declare to the Romanian customs authorities foreign exchange cash they are bringing in as well as traveller's checks, amount exceeding the equivalent of US Dollars 1,000.00 up to a maximum amount equivalent of US Dollars 10,000.00 per person and journey. This customs declaration is needed upon exit from Romania to justify the traveller's foreign exchange on hand.

Foreign currency brought in exceeding the limit of US Dollars 10,000.00 shall remain in the custody of the Romanian customs authority and for this act, the Customs Officer shall issue a receipt indicating the depositor's particulars, details of the amount entrusted, the date and the Officer's stamp.

Within three (3) years from the depositing date, the depositor presents the receipt and applies for the release of the amount deposited to the Customs Office or else, upon expiry, this amount goes to the State budget revenues.

2. Upon exit from Romania - Residing natural persons must declare to the Romanian customs authority foreign currency they are carrying out of Romania any amount exceeding US Dollars 1,000.00 up to a maximum amount of US dollars 5,000.00 or equivalent, per person and journey. This amount should be properly supported by a bank if drawn from a bank or foreign exchange bulletin if obtained statement thru conversion from lei. Foreign currency carried out of Romania by residing natural persons which exceed the maximum amount of US Dollars 5,000.00 or its equivalent must remain in the custody of customs authority, who then issues a receipt to the owner. This amount shall be released to him upon re-entry into Romania within three (3) years from depositing date or else, upon expiry, this amount goes to the State budget revenues.

Natural persons representing legal persons residing in Romania dealing in international transport and tourism may carry out of Romania foreign currency up to a maximum of US Dollars 10,000.00.

Non-resident natural persons may bring out of Romania (1) foreign exchange cash up to a maximum amount declared in the customs declaration which was signed upon entry into Romania and (2) foreign currency from transfers to and drawings from personal bank accounts or from conversion of traveller's checks declared upon entry into Romania. These transactions should be properly supported by documents to justify foreign exchange on hand upon exit from Romania. Amounts exceeding these limits will be deposited with the customs authorities and may be released upon re-entry into Romania.

B.
Lei Imports and Exports

For lei currency, natural persons must declare and deposit with customs authorities amounts exceeding 100,000.00 per person and journey. Only banknotes in lei below 5,000.00 may be brought in and taken out of Romania. The amount deposited may be reclaimed within three (3) years from receipt after which they are transferred to the State budget revenues.

The export from Romania of Romanian state bond expressed in foreign currency or lei is allowed.

Bearers of diplomatic passports may comply only with the export and import of lei currency.

The Department may wish to transmit copies of this report to the Bangko Sentral ng Pilipinas, and the Philippine Chamber of Commerce and Industry.

(SGD.) ALICE C. PALACIOS
Charge d' Affaires, a.i.