Practices Used To Purchase Foreign Currencies for U.S. Contributions to NATO

ID-79-51: Published: Sep 26, 1979. Publicly Released: Oct 1, 1979.

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The United States Army Support Group to the North Atlantic Treaty Organization (NATO) purchased foreign currencies needed for contributions to NATO. A study was made of this Support Group's Purchasing practices.

It was found that this Support Group was accelerating or delaying NATO payments in an attempt to obtain favorable exchange rates. Such speculative efforts were considered contrary to the intent of Treasury regulations that financial risk not be a part of meeting foreign currency needs for government overseas operations. The support group agreed to conform with Treasury regulations.

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