[Code of Federal Regulations]

[Title 19, Volume 2]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 19CFR159.34]



[Page 232-233]

 

                        TITLE 19--CUSTOMS DUTIES

 

   CHAPTER I--BUREAU OF CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF 

        HOMELAND SECURITY; DEPARTMENT OF THE TREASURY (CONTINUED)

 

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



[[Page 233]]



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 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]