Excess Foreign Currencies

Summary of Excess Foreign Currencies

Foreign currency, derived from the sale of U.S. agricultural commodities under P.L. 480, in excess of current U.S. requirements. Periodically, the U.S. Treasury reviews the foreign currency position of the U.S. government. Upon finding that holdings of any given currency exceed requirements for that currency, various agencies of the government are instructed to use the excess foreign currency, rather than dollars, in satisfying U.S. obligations abroad.

(Main Author: William J. Miller)