### Question
How is the "excess foreign currencies" defined?


### Answer
The term **excess foreign currencies** is defined in *22 U.S.C. § 2362* as follows -

> foreign currencies or credits owned by or owed to the United States which are, under applicable agreements with the foreign country concerned, available for the use of the United States Government and are determined by the President to be excess to the normal requirements of departments and agencies of the United States for such currencies or credits and are not prohibited from use under this subsection by an agreement entered into with the foreign country concerned

#### Citation:
  - *22 U.S.C. § 2362*
  - Heading: **CHAPTER 32-FOREIGN ASSISTANCE > SUBCHAPTER III-GENERAL AND ADMINISTRATIVE PROVISIONS > Part I-General Provisions**

