PDSWAR for the day
CIRCULAR LETTER Series of 1993
TO : All Banks
For the information and guidance of all concerned, the term "PDSWAR for the day" as used in Circular-Letter dated April 1, 1993 (Guidelines on Revaluation), means the weighted average rate of transactions done in the Philippine Dealing Systems at the end of the day published in the BSP Reference Exchange Rate Bulletin the following banking day. For end-of-month revaluation purposes, therefore, the rate to be used is the PDSWAR of the last banking day of the month published on the first banking day of the succeeding month.
However, PDSCR instead of PDSWAR may also be used as the revaluation rate if the conditions provided under the Guidelines on Revaluation are present.
FELICIANO L. MIRANDA, JR. Deputy Governor
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