Executive Order 6928—Amendment of Executive Order No. 6657-A of March 27, 1934 as Amended

Executive Order No. 6657-A of March 27, 1934, as amended, prescribing regulations for payment of losses sustained by officers, enlisted men, and employees of the United States in foreign countries on account of appreciation of foreign currencies in their relation to the American dollar, is hereby amended to read as follows: By virtue of and pursuant to the authority vested in me by the act of March 26, 1934, ch. 87, 48 Stat. 466, I hereby prescribe the following regulations, which shall apply to all officers, enlisted men, and employees of the United States while in service in foreign countries: DEFINITION 1. The words in the act "while in service in foreign countries", for the purpose of these regulations, shall be understood to mean (a) while employed in of on assignment or detail to a post of duty in a foreign country, (b) while en route through a foreign country or to or from such post, (c) while, during such assignment or detail abroad, on leave of absence with pay in a foreign country, or, in connection with allowances for rent of living quarters maintained abroad during leave of absence or while under orders in the United States, (d) while traveling in foreign countries under official orders, or (e) while attached to and serving on board United States vessels stationed in foreign waters for not less than 60 consecutive days. PURPOSE OF REGULATIONS 2. The purpose of these regulations is to provide for reimbursement to officers, enlisted men, and employees of the United States (hereinafter referred to as employees), for losses sustained from appreciation of foreign currencies in their relation to the American dollar, as authorized under the aforesaid act. METHOD OF COMPUTATION OF PAYMENT OF LOSSES 3. (a) The loss above referred to is that calculated on the basis of conversion into foreign currency of the employee's net salary and net allowances, except as provided in paragraphs (b), (c), (d), and (e) of this section. (b) In case of employees serving under the War and Navy Departments (with the exception of military and naval attachés and other employees attached to their offices, who shall be governed by paragraph (a) of this section), the loss is that calculated on the basis of conversion into foreign currency of the employee's net pay and allowances. (c) In case of employees traveling in foreign countries under official orders, not employed in or on assignment or detail to a post of duty in a foreign country, no part of the employee's salary not converted for expenditure abroad shall be included in the loss referred to for the purposes of these regulations. (d) In case of & foreign country in which the loss cannot be calculated on the basis of conversion into the currency of that country but, in consequence of local law or regulation, is required to be calculated on the basis of the appreciation in relation to the dollar of a noncirculating monetary unit in which prices of commodities and services are quoted but not payable— the dollar itself being used in payment therefor the loss is authorized to be computed on that basis. (e) In case of employees employed in or on assignment or detail to posts in countries having local laws and regulations preventing or limiting, subsequent to April 1, 1934, conversion of local currency into foreign exchange, their net salary and net allowances while they are at their post of duty in such country may be converted in a country other than that in which they are stationed and the losses so sustained since April 1, 1934, or hereafter sustained thereon, shall be reimbursed, but in no case in an amount greater than would have been reimbursable had the net salary and net allowances been converted at the post of duty. (f) In case of employees who sustained losses arising from the conversion of salaries or allowances (including those paid from fees either in foreign or American currency) during the period from July 15, 1933, to the effective date of this order, the losses shall be calculated as provided in paragraphs (a), (b), (c), (d), and (e) of this section. Claim for reimbursement for such loss shall be accompanied by the best evidence, available to the employee, of the rate at which conversion was made. (g) As used in this section: The term "net salary" means the base salary less any deductions for contribution to the retirement or other fund, or on account of percentage deductions in compensation. The term "net allowances" means allowances paid to the employee. The term "net pay and allowances" means the employee's full pay, including extra or additional pay, and all allowances (other than those furnished in kind) less deductions therefrom on account of allotments, fines and forfeitures, clothing, hospital, Civil Service Retirement Fund, percentage deductions in compensation, and other sundry checkages. BASIC EXCHANGE RATES FOR COMPUTATION OF LOSSES 4. For the basis of computation of losses as referred to in the aforesaid act, the following rates are prescribed as the basic rates for foreign currencies: COUNTRY MONETARY UNIT BASIC RATE Albania Gold Fr. 19.28 Argentina Peso 34.37 Austria Schilling 13.36 Belgium Belga 13.92 Bolivia Boliviano 31.31 Brazil Milreis 9.51 Bulgaria Lev .72 Canada Dollar 95.93 Chile Peso 9.46 China Yuan 31.18 Colombia Peso 96.22 Costa Rica Colon 24.56 Cuba Peso 99.95 Czechoslovakia Koruna 2.96 Danzig Gulden 19.44 Denmark Krone 24.27 Dominican Republic Dollar 100.00 Ecuador Sucre 19.37 Egypt Pound 456.53 El Salvador Colon 46.52 Estonia Kroon 26.66 Ethiopia M. T. Dollar 33.42 Finland Markka 2.25 France Franc 3.92 France (Possessions) Algiers Franc 3.92 Martinique Franc 3.92 Saigon Franc 3.92 Tahiti Franc 3.92 Tunis Franc 3.92 Germany Reichsmark 23.77 Great Britain Pound 445.17 Great Britain (Possessions) Aden Rupee 32.88 Australia Pound 400.19 Barbados Dollar 93.02 Belize Dollar 100.00 Colombo Rupee 33.14 Gibraltar Pound 445.30 Hamilton, Bermuda Pound 436.42 Hong Kong Dollar 34.38 India Rupee 33.21 Kingston, Jamaica Pound 440.68 Lagos Pound 440.36 Malta Pound 443.05 Nairobi Pound 445.29 Nassau Pound 441.25 Newfoundland Dollar 95.93 New Zealand Pound 424.04 Penang Dollar 51.36 Singapore Dollar 51.36 Trinidad Dollar 91.38 Greece Drachma 1.17 Guatemala Quetzal 100.00 Haiti Gourde 20.00 Honduras Lempira 50.00 Hungary Pengo 16.31 Iraq Pound 432.35 Irish Free State Pound 442.79 Italy Lira 5.20 Japan Yen 42.47 Latvia Lat 19.29 Liberia Pound 436.82 Lithuania Litas 10.00 Luxemburg Franc 2.70 Mexico Peso 41.70 Morocco Franc 3.91 Netherlands Florin 40.22 Netherlands (Possessions) Batavia Florin 40.22 Curaçao Florin 40.22 Medan Florin 40.22 Surabaya Florin 40.22 Nicaragua Cordoba 100.00 Norway Krone 24.18 Palestine Pound 427.92 Panama Balboa 100.00 Paraguay Peso 1.80 Persia Rial 6.28 Peru Sol 33.52 Poland Zloty 11.19 Portugal Escudo 4.10 Portugal (Possessions) Lourenço Marques Mozambique Escudo 4.25 Rumania Leu .59 Siam Baht 42.04 Spain Peseta 11.67 Sweden Krona 24.40 Switzerland Gold franc 19.35 Syria Syrian Pound 78.62 Turkey Lira 48.01 Union of South Africa Pound 474.50 Uruguay Peso 75.13 U.S.S.R. Ruble 51.74 Venezuela Bolivar 17.70 Yugoslavia Dinar 1.72 Yunnanfu Piaster 38.00 METHOD OF PAYMENT TO EMPLOYEES 5. From and after the effective date of this order, each employee shall be entitled to receive in foreign currency such amount as he would have received by converting into such foreign currency, at the basic rates specified in section 4, his net salary and net allowances, or his net pay and allowances, as provided in section 3. EFFECTIVE DATE 6. This order shall take effect as of January 1, 1935, and shall be retroactive to July 15, 1933, as to the basic rates for Newfoundland and Trinidad. FRANKLIN D. ROOSEVELT The White House, December 24, 1934.