The Binondo Central Bank (BCB) was a Filipino government dual exchange rate system that operated between 1983 and 1986.
It was established to allow the government to narrow the rate gap by directly intervening in black market currency prices.
It was organized by the Ferdinand Marcos government led by then Philippine Minister of Trade and Industry Roberto V. Ongpin with collaboration with other Filipino-Chinese businessmen.
[3] Ongpin was charged by the Presidential Commission on Good Government[4] in July 1987 with illegally acquiring ₱1,649,734 through the BCB.
[3] They were alleged by the government at that time to have used the BCB in buying millions of US dollars for deposit in foreign banks for their own gain.