Peso Par Value Adjustment Executive Order

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EXECUTIVE ORDER NO. 195: Peso Par Value Adjustment Executive Order

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Title Supreme Court: Peso Par Value Adjustment Executive Order

Law: Executive Order No. 195

Decision Date: Nov 6, 1965

Diosdado Macapagal, President of the Philippines, decreed a reduction in the par value of the peso from US$0.50 to US$0.2564103, effective November 8, 1965, following the unanimous recommendation of the Monetary Board.

executive order

monetary policy

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Change in Peso Par Value

The peso’s par value against the U.S. dollar was changed from US$0.50 to approximately US$0.2564103.
The new par value corresponds specifically to the U.S. dollar defined by its weight and fineness as of July 1, 1944.

Effective Date and Implementation

The change in the peso’s par value took effect at noon on November 8, 1965.
The Executive Order was formally signed by the President of the Philippines, Diosdado Macapagal, and witnessed by the Acting Executive Secretary.

Key Legal and Monetary Implications

The adjustment reflects a devaluation of the peso relative to the U.S. dollar based on historical monetary standards.
The decision involved coordination between the Monetary Board and the executive branch, indicating a high-level policy determination on currency valuation.
Compliance with international agreements underscores the Philippines’ commitment to monetary stability within the global context.

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