[ CIRCULAR LETTER, FEBRUARY 1, 2002, January 29, 2002 ]
PROCEEDS OF FX SALE FOR TRADE-RELATED TRANSACTIONS
The implementation of Item III of Circular-Letter dated January 24, 2002 which reads as follows:
"III. Unless specifically authorized by the Bangko Sentral, proceeds of FX sale, for trade-related transactions shall not be credited to any FCDU account even if remittance to beneficiary/supplier will be made on the same date that the FX was sold."
is temporarily deferred until further notice. The accompanying Q26 of Annex A of the aforesaid Circular-Letter is deleted.
This Circular-Letter shall take effect immediately.
Adopted: 1 Feb. 2002
(SGD.) AMANDO M. TETANGCO, JR.
Officer-In-Charge
Officer-In-Charge