Impact of Fluctuating Foreign Exchange Rates on Contract Prices

Abstract

The total FYs 1988 and 1989 reported value of DOD priine contracts awarded to foreign contractors was $8.8 billion and the value awarded to subcontractors was $3.2 billion. Prior audits by the General Accounting Office and the Inspector General, DOD, reported overpricing of contracts and subcontracts caused by the use of inaccurate and noncurrent exchange rate data. Federal and DoD acquisition regulations require that foreign contracts be priced and paid in local foreign currency with certain exceptions.

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Document Details

Document Type
Technical Report
Publication Date
May 14, 1992
Accession Number
ADA377932

Entities

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

DTIC Thesaurus Topics

  • Accounting
  • Acquisition
  • Agreements
  • Air Force
  • Air Force Facilities
  • Contractors
  • Contracts
  • Department Of Defense
  • Financial Management
  • Governments
  • Law
  • Military Acquisition
  • Money
  • New York
  • Procurement
  • United States
  • United States European Command

Readers

  • Defense Financial Management and Audit.
  • Government Contracting/Procurement.
  • International Relations and European Studies