The applicable interest rate on foreign currency deposits of banks with the Central Bank under the Foreign Exchange Clearing and Settlement System, as provided under Circular No. 1300 dated 29 July 1991, is hereby adjusted from 4% p.a. to 2-1/2 % p.a. effective 31 January 1992.

This Circular shall take effect on 31 Jan. 1992

Adopted: 29 Jan. 1992

(SGD.) JOSE L. CUISIA, JR.
Governor