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                            25.1002 Use of foreign currency.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart25.025.125.225.325.425.525.625.725.825.925.1025.11
Section25.100125.100225.1003
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25.1002 Use of foreign currency.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,   1342,   1511-1519).    **Parent topic:**  Subpart 25.10 - Additional Foreign Acquisition Regulations
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