Skip to main content

Lapse in Appropriations

Please note that a lapse in appropriations has caused GAO to shut down its operations. Therefore, GAO will not be able to publish reports or otherwise update this website until GAO resumes operations. In addition, the vast majority of GAO personnel are not permitted to work. Consequently, calls or emails to agency personnel may not be returned until GAO resumes operations. For details on how the bid protest process will be handled during the shutdown, please see the legal decisions page. For information related to the GAO Personnel Appeals Board (PAB), please see the PAB webpage.

Government Procedures for Buying Some Foreign Currencies

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

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.

Full Report

Full Report (37 pages)

Media Inquiries

Sarah Kaczmarek
Managing Director
Office of Public Affairs
media@gao.gov

Public Inquiries

Contact Us

Topics

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