This report provides an overview of the exchange rates utilized by the U.S. government for acquiring foreign currencies, specifically focusing on the euro to dollar rate, for official expenditures. These rates are meticulously reported by disbursing officers from each post and are compiled based on the last business day of the month preceding the report’s publication.
Amendments to Exchange Rates
To ensure accuracy and responsiveness to market fluctuations, the U.S. Treasury employs a system of amendments. If current euro dollar rates, or any reported currency rate, deviate by 10% or more from the published figures, amendments are issued to this quarterly report. These amendments are crucial for reflecting significant shifts in currency values and maintaining fiscal responsibility.
An amendment to a currency exchange rate, including the euro dollar rate, for a given quarter will be presented as a separate entry in the report, marked with a new effective date. For instance, an amendment made on April 30th will result in two entries: one for the original rate published on March 31st and another for the amended rate effective from April 30th. This amended rate would then be applicable for reporting transactions in May and June. Furthermore, amendments are also utilized to incorporate newly established foreign currencies into the reporting framework, ensuring comprehensive coverage. Amendments have been systematically included in these datasets since March 2021, enhancing the report’s timeliness and reliability.
Exceptions to Standard Exchange Rates
While these published exchange rates, including those for the euro dollar, are generally mandated for all U.S. government agencies, certain exceptions exist. These exceptions are designed to accommodate specific financial scenarios. Notably, collections and refunds are valued at rates stipulated by international agreements. Conversions between different foreign currencies, transactions involving the sale of foreign currencies for dollars, and particular types of transactions impacting dollar appropriations also fall under these exceptions. For a detailed understanding of these exceptions, refer to Volume I Treasury Financial Manual 2-3200, which provides comprehensive guidelines.
Utilizing Exchange Rates for Reporting
To maintain uniformity across all reports, U.S. government agencies are required to use these published exchange rates, barring the exceptions mentioned, to convert foreign currency balances and reported transactions into U.S. dollar equivalents. This conversion should be performed as of the date of this report and for all transactions within the subsequent three months. It is crucial to understand that the euro dollar and other exchange rates presented in this report are not real-time, current exchange rates. Therefore, they should not be used for valuing transactions that directly affect dollar appropriations. For those requiring exchange rate data prior to 2001, the GovInfo.gov website serves as a valuable resource. This platform offers individual reports dating back to 1963 and a consolidated report extending to 1956, providing extensive historical data.
Availability of Published Reports
The officially published quarterly reports are available in PDF format. However, it is important to note that these PDF reports do not include amended rates. Amended rates, which are critical for up-to-date accuracy, are exclusively available within the raw data sets associated with these reports. Consequently, no separate PDF reports are published specifically for amended rates. Accessing the raw data is essential for users needing the most current and adjusted euro dollar and other currency exchange rates for U.S. government financial reporting.
