Foreign Currency Values for Duty Assessment

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PROCLAMATION NO. 12: Foreign Currency Values for Duty Assessment

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Title Supreme Court: Foreign Currency Values for Duty Assessment

Law: Proclamation No. 12

Decision Date: Oct 30, 1946

Proclamation No. 12, issued by President Manuel Roxas on October 30, 1946, establishes the values of various foreign currencies for the assessment and collection of duties under Republic Act No. 77.

currency valuation

foreign currency

duty assessment

A

Scope and Application

The currency values published pertain to various foreign countries which are relevant for customs duty computations.
The currencies listed are valued in terms of the Philippine Peso and its equivalent in U.S. currency.

Definitions and Currency Listings

Each foreign currency is identified by its country of origin and its currency unit.
The proclaimed values represent the official rates in Philippine currency per unit of the foreign currency.
Additionally, each rate's equivalent value in U.S. currency is provided for reference.

Legal Effect and Enforcement

The published currency values shall be the basis for the assessment and collection of duties under Republic Act No. 77.
The proclamation formalizes these rates as binding for all customs and revenue purposes.

Formalization and Authentication

The document is signed by the President of the Philippines and countersigned by the Chief of the Executive Office.
It is sealed with the official seal of the Republic of the Philippines.
The proclamation was issued in Manila on October 30, 1946, marking both the issuance date and contextual historical reference.

Summary of Published Currency Values

Argentina Peso: Php 0.595466 = USD 0.297733
Australia Pound: Php 6.426226 = USD 3.213113
Belgium Franc: Php 0.045608 = USD 0.022804
Brazil Cruzeiro: Php 108.106 = USD 54.053
Canada Dollar: Php 2.000000 = USD 1.000000
Colombia Peso: Php 1.140132 = USD 0.570066
Czechoslovakia Koruna: Php 0.40120 = USD 0.020060
Denmark Krone: Php 4.17530 = USD 2.08765
England Pound Sterling: Php 8.065156 = USD 4.032578
France Franc: Php 0.016818 = USD 0.008409
India (British) Rupee: Php 0.603134 = USD 0.301567
Italy Lira: Php 0.008868 = USD 0.004434
Mexico Peso: Php 0.411506 = USD 0.205753
Netherlands Guilder: Php 0.755786 = USD 0.377893
Newfoundland Dollar: Php 2.000000 = USD 1.000000
New Zealand Pound: Php 6.452000 = USD 3.226000
Norway Krone: Php 0.403224 = USD 0.201612
Portugal Escudo: Php 0.081002 = USD 0.040501
Spain Peseta: Php 0.182648 = USD 0.091324
Sweden Krona: Php 0.556428 = USD 0.278214
Switzerland Franc: Php 0.467258 = USD 0.233629
Union of South Africa Pound: Php 8.01000 = USD 4.005000
Uruguay Peso: Php 1.316600 = USD 0.658300

This list forms the official reference for customs valuation involving these currencies.

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