the ceiling conversion rate of the peso to the dollar in 1963 when the republic took possession of the property was p3.20 to $ 1.00 ; 5 the inter-bank guiding rate for january 20 , 1975 was p7.0705 , 6 more than double that in 1963 ; on january 20 , 1975 , the foreign exchange rate was $ 1,00 for p7.32 ; 7 so that even if celestino juan is to be considered as having judicially admitted the price of his property in the sum of p300,000.00 ( which admission is , as previously stated , qualified or non-categorical ) , the doubling of this sum at this time is justified .