[Code of Federal Regulations]
[Title 48, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR25.1002]

[Page 483]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                CHAPTER 1--FEDERAL ACQUISITION REGULATION
 
PART 25_FOREIGN ACQUISITION--Table of Contents
 
        Subpart 25.10_Additional Foreign Acquisition Regulations
 
Sec.  25.1002  Use of foreign currency.

    (a) Unless an international agreement or the Trade Agreements Act 
(see 25.408(a)(3)) requires a specific currency, contracting officers 
must determine whether solicitations for contracts to be entered into 
and performed outside the United States will require submission of 
offers in U.S. currency or a specified foreign currency. In unusual 
circumstances, the contracting officer may permit submission of offers 
in other than a specified currency.
    (b) To ensure a fair evaluation of offers, solicitations generally 
should require all offers to be priced in the same currency. However, if 
the solicitation permits submission of offers in other than a specified 
currency, the contracting officer must convert the offered prices to 
U.S. currency for evaluation purposes. The contracting officer must use 
the current market exchange rate from a commonly used source in effect 
as follows:
    (1) For acquisitions conducted using sealed bidding procedures, on 
the date of bid opening.
    (2) For acquisitions conducted using negotiation procedures--
    (i) On the date specified for receipt of offers, if award is based 
on initial offers; otherwise
    (ii) On the date specified for receipt of final proposal revisions.
    (c) If a contract is priced in foreign currency, the agency must 
ensure that adequate funds are available to cover currency fluctuations 
to avoid a violation of the Anti-Deficiency Act (31 U.S.C. 1341, 1342, 
1511-1519).

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