This report details the foreign currency exchange rates used by the U.S. government for transactions, as required by Section 613 of Public Law 87-195. These rates ensure consistency across all government agencies when reporting foreign currency holdings and transactions in U.S. dollar equivalents. The rates cover a wide range of financial activities, including receipts, disbursements, obligations, and receivables, in all foreign currencies relevant to U.S. government operations.
Certain exceptions exist where specific rates are dictated by international agreements or the nature of the transaction, such as currency conversions or sales. Detailed guidelines for these exceptions can be found in the Treasury Financial Manual.
The published exchange rates represent the rates at which the U.S. government could acquire foreign currencies for official spending at the end of the previous month. These rates are valid for the current quarter (three months).
Significant deviations of 10% or more from the published rates trigger amendments issued by the Treasury. These amendments, effective from their date of issue, are incorporated into the report as separate entries, allowing for accurate reporting of transactions throughout the quarter. Amendments also cover newly established foreign currencies.
While crucial for uniform reporting across government agencies, these rates are not current market rates and should not be used for valuing transactions impacting dollar appropriations. They serve the specific purpose of consistent financial reporting across government agencies. Using these rates ensures that all agencies report foreign currency transactions in a standardised manner, facilitating accurate and comparable financial data. These rates provide a stable basis for reporting, even as market fluctuations occur.