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FOREIGN CURRENCY FLUCTUATION RATES
FOREIGN CURRENCY FLUCTUATIONS, DEFENSE
The Foreign Currency Fluctuations, Defense (FCF,D) appropriation was established in FY 1979 to enable execution of budgeted
programs despite adverse variations in foreign currency exchange rates. This centralized account is managed by the Under Secretary
of Defense (Comptroller). Funds are transferred from this appropriation to DoD Components’ Operation and Maintenance and
Military Personnel appropriations to offset net losses in purchasing power because of unfavorable fluctuations in the foreign currency
exchange rates of specified currencies. If a net gain results, the asset is transferred from the gaining appropriation to the FCF,D
appropriation to replenish the fund. Unobligated balances from the prior two years for Operation and Maintenance and Military
Personnel appropriations can be transferred to the FCF,D to further replenish the fund. The specified currencies are shown below as
well as the rates used to formulate the budget. The Department will use these rates to measure foreign currency fluctuation during
execution. These rates are expressed in terms of units of foreign currency that can be purchased with one (1) U.S. dollar.
Foreign Currency Exchange Rates
Units of Foreign Currency per One U.S. Dollar
Budget Rates
FOREIGN CURRENCY FLUCTUATION RATES
President’s
Budget Rates
Country Monetary Unit FY 2012 FY 2013 FY 2014
Denmark Krone 5.5819 5.3956 5.4074
European Community Euro 0.7491 0.7241 0.7259
Iceland Krona 105.2688 106.8909 114.5787
Japan Yen 91.2524 82.4035 81.7098
Norway Krone 6.0905 5.9362 5.8662
Singapore Dollar 1.4246 1.3313 1.3155
South Korea Won 1,099.5183 1,095.1635 1,140.7859
Turkey Lira 1.4139 1.4508 1.6091
United Kingdom Pound 0.5917 0.5943 0.6177
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