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International Affairs: Foreign Currency Exchange Rate Fluctuation Funds

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Report Type Reports and Testimonies
Report Date Aug. 21, 1981
Report No. ID-81-54
Subject
Summary:

GAO reviewed the contingency funds approved by Congress to cover shortages, caused by foreign currency exchange rate fluctuations, in the Department of Defense's (DOD) overseas programs. The objective of the review was to evaluate the effectiveness of procedures for using and accounting for those funds.

GAO found the procedures to be generally effective, but noted inconsistencies among the military services in handling exchange rate fluctuations for some programs and activities and a few relatively minor operating deficiencies.

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