[Code of Federal Regulations]
[Title 19, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 19CFR159.34]

[Page 230-231]
 
                        TITLE 19--CUSTOMS DUTIES
 
  CHAPTER I--UNITED STATES CUSTOMS SERVICE, DEPARTMENT OF THE TREASURY
 
PART 159--LIQUIDATION OF DUTIES--Table of Contents
 
                Subpart C--Conversion of Foreign Currency
 
Sec. 159.34  Certified quarterly rate.

    (a) Countries for which quarterly rate is certified. For the 
currency of each of the following foreign countries, there will be 
published in the Customs Bulletin, for the quarter beginning January 1, 
and for each quarter thereafter, the rate or rates first certified by 
the Federal Reserve Bank of New York for such foreign currency for a day 
in that quarter:

Australia, Austria, Belgium, Brazil, Canada, Denmark, Finland, France, 
Germany, Hong Kong, India, Iran, Ireland, Italy, Japan, Malaysia, 
Mexico, Netherlands, New Zealand, Norway, People's Republic of China, 
Philippines, Portugal, Republic of South Africa, Singapore, Spain, Sri 
Lanka (Ceylon), Sweden, Switzerland, Thailand, United Kingdom, 
Venezuela.

    (b) When certified quarterly rate is used. The certified quarterly 
rate established under paragraph (a) of this section shall be used for 
Customs purposes for any date of exportation within the quarter, except 
in the following cases:
    (1) Proclaimed rate. If a rate has been proclaimed by the Secretary 
of the Treasury under Sec. 159.33 which does not vary by 5 percent or 
more from the appropriate certified daily rate, notice of such variance 
shall be published in the Customs Bulletin and the proclaimed

[[Page 231]]

rate shall be used for Customs purposes in connection with merchandise 
exported on such date.
    (2) Certified daily rate. If the certified daily rate for the date 
of exportation varies by 5 percent or more from the certified quarterly 
rate, notice of such variation and the rate or rates certified for such 
day shall be published in the Customs Bulletin, and such certified daily 
rate shall be used for Customs purposes in connection with merchandise 
exported on such day.

[T.D. 73-175, 38 FR 17482, July 2, 1973, as amended by T.D. 81-117, 46 
FR 24944, May 4, 1981]