Memorandum Circular No. 308 (1969)
Prohibiting the Grant of the Preferred Exchange Rate of ?2 to $1 for Travel Purposes.
MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Circular No. 308, December 23, 1969 ]
PROHIBITING THE GRANT OF THE PREFERRED EXCHANGE RATE OF ?2 TO $1 FOR TRAVEL PURPOSES.
No agency or instrumentality of the Government shall henceforth authorize, direct or allow the dollar exchange for travel purposes at the rate of ?2 to $1 or any preferential or preferred rate other than the prevailing rate of exchange for normal commercial banking transactions.
By authority of the President:
(SGD.) ERNESTO M. MACEDA
Executive Secretary
Manila, December 23, 1969