My bookmarksSign up free

RA 265 Section 68

International reserve.

Section 68

SEC. 68. International reserve.—In order to maintain the International stability and convertibility of the Philippine peso, the Central Bank shall maintain an international reserve adequate to meet any foreseeable net demands on the Bank for foreign currencies. In judging the adequacy of the international reserve, the Monetary Board shall be guided by the prospective receipts and payments of foreign exchange by the Philippines. The Board shall give special attention to the volume and maturity of the Central Bank's own liabilities in foreign currencies, to the volume and maturity of the foreign exchange assets and liabilities of other banks operating in the Philippines and, insofar as they are known or can be estimated] the volume and maturity of the foreign exchange assets and liabilities of all other persons and entities in the Philippines.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER III.—GUIDING PRINCIPLES OF MONETARY ADMINISTRATION BY THE CENTRAL BANK →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

What to look at next