Q What is the period of replacement A 1 Notes for any series or denomination

Q what is the period of replacement a 1 notes for any

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Q: What is the period of replacement? A: 1. Notes for any series or denomination More than 5 years old 2. Coins More than 10 years old Q: How is the Power to determine Rates of Exchange exercised? A: 1. The Monetary Board shall determine the rates at which the Bangko Sentral shall buy and sell spot exchange, and shall establish deviation limits from the effective exchange rate or rates as it may deem proper. 2. The Monetary Board shall similarly determine the rates for other types of foreign exchange transactions by the Bangko Sentral, including purchases and sales of foreign notes and coins, but the margins between the effective exchange rates and the rates thus established may not exceed the corresponding margins for spot exchange transactions by more than the additional costs or expenses involved in each type of transactions. Q: What actions does the Bangko Sentral take when international stability of Peso is threatened? A: Whenever the international reserve of the Bangko Sentral falls to a level which the Monetary Board considers inadequate to meet the prospective demands on the Bangko Sentral for foreign currencies, or whenever the international reserve appears to be in imminent danger of falling to such a level, or whenever the international reserve is falling as a result of payments or remittances abroad which , in the opinion of the Monetary Board, are contrary to the national welfare, the Monetary Board shall: 1. Take such remedial measures as are appropriate and within the powers granted to the Monetary Board, and the Bangko Sentral 2. Submit to the President of the Philippines and the Congress, and make public a detailed report which shall includes, as a minimum, a description and analysis of: a. The nature and causes of the existing or imminent decline; b. The remedial measures already taken or to be taken by the Monetary Board
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B ANKING L AWS U N I V E R S I T Y O F S A N T O T O M A S F a c u l t a d d e D e r e c h o C i v i l A CADEMICS C HAIR : L ESTER J AY A LAN E. F LORES II V ICE C HAIRS F OR A CADEMICS : K AREN J OY G. S ABUGO & J OHN H ENRY C. M ENDOZA V ICE C HAIR FOR A DMINISTRATION AND F INANCE : J EANELLE C. L EE V ICE C HAIRS FOR L AY O UT A ND D ESIGN : E ARL L OUIE M. M ASACAYAN & T HEENA C. M ARTINEZ c. The monetary, fiscal or administrative measures further proposed d. The character and extent of the cooperation required from other government agencies for the successful execution of the policies of the Monetary Board (Sec. 67). Q: What are the emergency restrictions on the foreign exchange operations? A: 1. Temporarily suspending and restricting sales of foreign exchange by the Bangko Sentral; 2. Subjecting all transactions in gold and foreign exchange to license by the Bangko Sentral; 3. Requiring that any foreign exchange thereafter obtained by any person residing or entity operating in the Philippines be delivered to the Bangko Sentral or to any bank or agent designated by the Bangko Sentral for the purpose, at the effective exchange rate or rates (Sec. 72) Note:
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