Pursuant to the power vested in me by Republic Act Numbered Two Hundred and Sixty-Five, and in conformity with the provisions of all executive and international agreements subscribed to and ratified by the Republic of the Philippines, and upon proposal of the Monetary Board with the unanimous concurrence of the members of said Monetary Board, I, Diosdado Macapagal, President of the Philippines, do hereby modify the par value of the peso from US$0.50 to US$0.2564103 (U.S. dollar of the weight and fineness in effect on July 1, 1944), effective noon on Monday, the eight day of November, 1965.

Done in the City of Manila, this 6th day of November, in the year of Our Lord, nineteen hundred and sixty-five.

(Sgd.) DIOSDADO MACAPAGAL
President of the Philippines

By the President:
(Sgd.) SALVADOR L. MARIÑO
Acting Executive Secretary