### Question
How does MUTUAL EDUCATIONAL AND CULTURAL EXCHANGE PROGRAM define excess foreign currencies?


### Answer
Under *22 U.S.C. § 2454*, **excess foreign currencies** is defined as:

> foreign currencies, which if acquired by the United States (A) would be in excess of the normal requirements of departments, agencies, and embassies of the United States for such currencies, as determined by the President, and (B) would be available for the use of the United States Government under applicable agreements with the foreign country concerned

#### Citation:
  - *22 U.S.C. § 2454*
  - Heading: **CHAPTER 33-MUTUAL EDUCATIONAL AND CULTURAL EXCHANGE PROGRAM**

