1. The market value of balance of Foreign Reserves held by the Central Bank, shall not, in all cases, be less than seventy percent (70%) of the value of the Monetary Base. Such Foreign Reserves shall consist of one or more than one of the following items: a. Gold bullion and other precious metals. b. Cash, deposits and other monetary and payment instruments denominated in any foreign currency, freely convertible in global financial markets, including digital currencies issued by other central banks and monetary authorities. c. Equities and securities denominated in any foreign currency, and issued or guaranteed by foreign governments and their related companies, entities, institutions, and agencies, or by international monetary and financial institutions, that are tradable in global financial markets. d. Equities and other securities denominated in any foreign currency in accordance with the guidelines set in the Central Bank’s investment policy. 2. The Board of Directors may reduce the Monetary Base cover ratio, referred to in item (1) of this article for a period not exceeding twelve (12) months.
Interpretation and application must be checked against the official text and current version.