What is the Philippine policy against saving foreign currency?

Question

I am a filipino, and i am earning my allowances from my parents monthly, 4,000-5,000 a month... and convert it to canadian dollars... that would be approximately CA$100... considering that buying dollars is quite expensive that selling it... uhm... can i ask, is there any limit for me? im planning to have atleast 1,000 canadian dollars... that's the time i would stop... for now.. i have $105 only... so anybody here who could advise?

Answer 1

you can open a foreign exchange account in any bank with no limt if you are in manila.