H. No. 774
"For the purpose of the assessment and collection of duties upon merchandise imported into the Philippines on or after the day of the enactment of this Act, wherever it is necessary to convert foreign currency into the currency of the Philippines, such conversion shall be made at the values proclaimed, from time to time, by the President upon recommendation of the Secretary of Finance, upon the basis, in so far as practicable, of the current rates of exchange."SEC. 2. This Act shall take effect upon its approval.