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Revaluation of Foreign Currency
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Disbursing Clerk 1 & C - Military manual for administrative purposes
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Disposition of Foreign Currency
collection   (gains)   or   disbursement   (losses),   as applicable.  All  gains  or  losses  will  be  charged  or credited  to  the  appropriation  Gains  and  Deficiencies  on Exchange  Transaction,  17-6763.  The  proper accounting  procedures  for  documenting  gains  and losses are shown in figure 5-3. UNOFFICIAL  FLUCTUATIONS In  countries  where  the  rate  of  exchange  is  not established   by   agreement   between   the   U.S. Government and the foreign country, the DO does not have  to  revalue  these  currencies.  Instead,  the  DO expends them from the accounts by using the average purchase rate of the currency on hand. However, in countries  without  an  established  rate  of  exchange, changes in value may often occur. What happens when a DO must increase the amount of foreign currency on hand by purchase, collection, or transfer from another DO at a rate of exchange that is different from the rate the DO is currently using? In these cases, the DO must compute and use a new average purchase rate. No gain Average Purchase Rate If  possible,  the  average  value  of  foreign  currency on hand should be determined at the beginning or end of the business day. To determine the average purchase rate, the DO adds the U.S. dollar equivalent value of the foreign currency  on  hand  (before  the  new  acquisitions)  to  the U.S.  dollar  equivalent  value  of  the  additional  foreign currency received. This total is divided into the new total of foreign currency units on hand. Documentation A certificate of change in average purchase rate, similar to the example shown in figure 5-4, must be prepared  and  signed  by  the  DO  or  deputy.  The certificate  should  be  submitted  with  the  Statement  of Accountability,  SF  1219. You have just read about revaluations based on official  rates  of  exchanges  and  those  caused  by unofficial  fluctuations.  In  the  following  section,  we will look at the various ways a DO can use to dispose or  loss  will  result  from  these  transactions. of  foreign  currency. Figure 5-3.—Accounting data for gains and losses in foreign currency transactions. 5-6

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