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Government Procedures for Buying Some Foreign Currencies

ID-79-17 Published: Aug 09, 1979. Publicly Released: Aug 09, 1979.
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Highlights

Each year the U.S. Government buys about $5.5 billion worth of foreign currencies for operating expenses in other countries which must be paid in local currencies and for nonappropriated fund activites, such as the post exchange system. A review was made of Government procedures for purchasing the foreign currencies to see if the most favorable exchange rates were being obtained.

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Armed forces abroadForeign currencyForeign exchange ratesMonetary policiesNonappropriated fund instrumentalitiesFederal reserve banksAir Force purchasingMilitary forcesFutures marketsBid proposals