---
kind: "section"
citation: "48 C.F.R. § 25.1002"
title: "48"
number: "25.1002"
heading: "Use of foreign currency."
url: "https://uscodex.org/cfr/48/25.1002"
---

# §25.1002. Use of foreign currency.

- (a) Unless an international agreement or the WTO GPA (see 25.408(a)(4)) 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](/usc/31/1341.md), [1342](/usc/31/1342.md), [1511-1519](/usc/31/1511-1519.md)).

## Notes

### Amendments

[64 FR 72419, Dec. 27, 1999, as amended at 69 FR 1055, Jan. 7, 2004; 69 FR 77876, Dec. 28, 2004]

### Authority

Authority: 41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.

### Source

Source: 64 FR 72419, Dec. 27, 1999, unless otherwise noted.

### Amendments

[64 FR 72419, Dec. 27, 1999, as amended at 69 FR 1055, Jan. 7, 2004; 69 FR 77876, Dec. 28, 2004]