Host Country-Owned Foreign Currency

Functional Series 600 – Budget and Finance

Partial Revision Date: 12/21/2011
Responsible Office: M/CFO/FPS
File Name: 624_092012

Overview

This ADS chapter prescribes the financial management policy for host country-owned foreign currency generated, set aside, or required to be deposited under program assistance agreements such as Commodity Import Programs, Non-Project Sector Assistance Programs, Cash Transfers, and PL 480 Programs. The terms host country-owned foreign currency, local currency (LC), and host government-owned local currency are used interchangeably in this chapter.