Please
refer to BPRD Circular No. 33 dated the 14th October,
1999 on the captioned subject.
In view of the return of normalcy in the foreign exchange
market, and in order to ensure adequate availability of raw
material for productive activity, it has been decided to withdraw
with effect from October 28, 1999 the minimum margin requirement
for opening letters of credit for industrial raw materials.
Please acknowledge receipt.
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