Key Issues > Duplication & Cost Savings > GAO's Action Tracker > Foreign Currency Fluctuation
defense icon, source: [West Covina, California] Progressive Management, 2008

Defense: Foreign Currency Fluctuation

The Department Of Defense needs to more efficiently and effectively manage foreign currency funds to potentially save millions of dollars.

Action:

GAO recommended that the Office of the Under Secretary of Defense (Comptroller), in coordination with the services, conduct a review of the foreign currency rates used at disbursement to determine whether cost-savings opportunities exist by more consistently selecting cost-effective rates.

Progress:

Pending

Implementing Entity:

Department of Defense

Action:

GAO recommended that the Office of the Under Secretary of Defense (Comptroller) analyze realized and projected losses to determine the necessary size of the Foreign Currency Fluctuation, Defense account balance and use the results of this analysis as the basis for transfers to replenish the account.

Progress:

Pending

Implementing Entity:

Department of Defense
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    • Cary Russell
    • Director, Defense Capabilities and Management
    • RussellC@gao.gov
    • (202) 512-5431