Regulatory Act Of The 18Th Fraction Of The Constitutional Article 73, In What Refers To The Ability Of Congress To Dictate Rules To Determine The Relative Value Of The Foreign Currency

Original Language Title: Ley Reglamentaria de la Fracción XVIII del Artículo 73 Constitucional, en lo que se refiere a la facultad del Congreso para dictar reglas para determinar el valor relativo de la Moneda Extranjera

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Regulatory Law of the 18th Fraction of Article 73 Constitutional, as it relates to the Faculty of Congress to Dict Rules to Determine the Relative Value of Foreign Currency

REGULATORY LAW OF THE 18TH FRACTION OF ARTICLE 73 CONSTITUTIONAL, IN RESPECT OF THE FACULTY OF CONGRESS TO DICTATE RULES FOR DETERMINING THE RELATIVE VALUE OF THE CURRENCY Foreign

Official Journal of the Federation December 27, 1982

On the sidelines a seal with the National Shield, which reads: United Mexican States.-Presidency of the Republic.

MIGUEL DE LA MADRID HURTADO, Constitutional President of the United Mexican States, to its inhabitants, known:

That the H. Congress of the Union has been used to address the following

DECREE

" The Congress of the United Mexican States, Decreta:

Regulatory Law of the 18th Fraction of Article 73 Constitutional, as it relates to the power of Congress to dictate rules for determining the relative value of foreign currency.

ARTICLE FIRST.- The Bank of Mexico in determining the relative value of the foreign currency with the national currency, in accordance with the provisions of its Organic Law, will take in consideration as general rules, in addition to the existing ones, the following factors and criteria:

a) Balance of payments balance;

b) The development of the country's foreign trade;

c) Maintaining the appropriate level of international foreign exchange reserves;

d) The behavior of the currency market;

e) The obtaining of foreign currency required for the payment of international commitments;

f) The behavior of price levels and internal and external interest rates; and

g) The equity between creditors and debtors of bonds denominated in foreign currency, payable in the National Territory.

ARTICLE SECOND.- The assessment of the factors and criteria contained in the rules of the previous article will aim to promote the balanced development of the country and the ensuring the implementation of development plans with social justice.

TRANSIENT

ONLY ARTICLE.- This Law will take effect the day after its publication in the Official Journal of the Federation.

Mexico, D. F., December 14, 1982.- Antonio Riva Palacio López, S.P.- Mariano Pina Olaya, D.P.- Alfonso Segbe Sanen, S.S.- Hilda Anderson Nevarez de Rojas, D.S.-Rubicas '.

In compliance with the provisions of Article 89 (I) of the Political Constitution of the United Mexican States and for their proper publication and observance, I request the present Decree at the residence of the Federal Executive Branch, in Mexico City, Federal District, on the fifteenth day of December of a thousand nine hundred and eighty-two.-"Year of General Vicente Guerrero".- Miguel de la Madrid Hurtado.- The Secretary of Finance and Public Credit, Jesus Silva Herzog.- Heading.-The Secretary of Commerce, Héctor Hernández Cervantes.-Heading.-The Secretary of Government, Manuel Bartlett Díaz.-Heading.