EXECUTIVE ORDER NO. 195

: The main subject is the change of the par value of the Philippine peso from US$0.50 to US$0.2564103 based on the U.S. dollar weight and fineness in effect on July 1, 1944.
: The proposal was made by the Monetary Board with the unanimous concurrence of all its members.
: The change took effect at noon on Monday, November 8, 1965.
: Par value of the peso refers to the official fixed exchange rate or value of the peso relative to the U.S. dollar as determined by the government.
: The changed par value referred to the U.S. dollar weight and fineness in effect on July 1, 1944.
: Yes, the order states it is in conformity with the provisions of all executive and international agreements subscribed to and ratified by the Philippines.
: Salvador L. Mariao signed the Executive Order as Acting Executive Secretary.
: Republic Act No. 265 grants the President the authority to modify the par value of the peso, which served as the legal basis for issuing Executive Order No. 195.