Treasury Reporting Rates of Exchange

Report Description:

This report provides exchange rate information under Section 613 of Public Law 87-195 dated September 4, 1961 (22 USC 2363 (b)) which gives the Secretary of the Treasury sole authority to establish the exchange rates for all foreign currencies or credits reported by all agencies of the government.

The primary purpose is to ensure that foreign currency reports prepared by agencies are consistent with regularly published Treasury foreign currency reports regarding amounts stated in foreign currency units and U.S. dollar equivalents.

This covers all foreign currencies in which the U.S. government has an interest, including:

• receipts and disbursements,
• accrued revenues and expenditures,
• authorizations,
• obligations,
• receivables and payables,
• refunds, and
• similar reverse transaction items.

Exceptions to using the reporting rates as shown in the report are:

• collections and refunds to be valued at specified rates set by international agreements,
• conversions of one foreign currency into another,
• foreign currencies sold for dollars, and
• other types of transactions affecting dollar appropriations. (See Volume I Treasury Financial Manual 2-3200 for further details.)

This quarterly report reflects exchange rates at which the U.S. government can acquire foreign currencies for official expenditures as reported by disbursing officers for each post on the last business day of the month prior to the date of the published report.

If current rates deviate from the published rates by 10% or more, Treasury will issue amendments to this quarterly report. Starting in April 2021, an amendment to a currency exchange rate for the quarter will appear on the report as a separate line with a new effective date. Amendments made at the end of a month can be used for reporting purposes for transactions occurring during the remaining month(s) in the quarter.

Example: A currency amended on April 30th will appear on two lines of the report. One line for the original March 31st published rate and another line for the amended rate effective April 30th which would be valid for reporting purposes for May and June transactions. Amendments will also be issued to reflect the establishment of new foreign currencies.

To ensure all reports are translated at uniform exchange rates, all U.S. government agencies should use these rates, except as noted above, to convert foreign currency balances and reported transactions to U.S. dollar equivalents as of the date of this report and for the ensuing three months.

Since the exchange rates in this report are not current rates of exchange, they should not be used to value transactions affecting dollar appropriations.