Preamble
WHEREAS, blackmarketing and smuggling of foreign currencies and foreign exchange instruments are detrimental to the national economy; WHEREAS, the law enforcement agencies of the Government have been instructed to intensify the campaign against the blackmarketing and smuggling of foreign exchange; WHEREAS, confiscated, forfeited or abandoned foreign currencies and foreign exchange instruments can be best utilized by the Central Bank of the Philippines; WHEREAS, it is thus necessary to designate the Central Bank of the Philippines as the sole custodian of all foreign currencies and foreign exchange instruments that may be confiscated or forfeited in favor of the Government, or abandoned, with authority to dispose of the same as the Monetary Board may direct in the appropriate circulars, rules and regulations; WHEREAS, it is likewise necessary to expedite cases of blackmarketing or smuggling of foreign exchange pending before the courts, without unduly prejudicing the rights of the accused; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virture of the powers vested in me by the Constitution, do hereby decree: