22. The external assets of the Currency Fund shall consist of all or any of the following and they shall at all times be not less than 100% of the face value of the currency issued by the Board:
(a)
gold and silver in any form;
(b)
foreign exchange in the form of —
(i)
demand or time deposits with the Board’s agents or correspondents abroad;
(ii)
documents and instruments customarily used for the making of payments or transfers in international transactions;
(iii)
bank balances and money at call;
(iv)
Treasury Bills;
(v)
notes or coins;
[Act 3/91 wef 01/02/1991]
(c)
securities of or guaranteed by foreign governments or international financial institutions;
(d)
any readily available international drawing facility which the Board, after consultation with the International Monetary Fund and with the approval of the President, considers suitable for inclusion;
(e)
any other asset which the Board, with the approval of the President, considers suitable for inclusion.