Please read my OP, I said peso as in Philippines pesos
US Dollars as long as your under $10K your don't have to report entering Philippines
It's bringing in or exiting Philippine with more than 50,000 pesos (About $1K USD) , Just a few years ago it was only 10,000 peso ( 200 bucks USD)
Bangko Sentral ng Pilipinas is the governor authority on it and they set the rules