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7 U.S. Code § 1703

Terms and conditions of sales

7 U.S. Code § 1703. Terms and conditions of sales

(a) Payment
(1) Dollars
Except as provided in paragraph (2), agreements under this subchapter shall require that payment for agricultural commodities be made in dollars.
(2) Local currencies
(A) In general
The Secretary may permit payment under an agreement under this subchapter in the local currency of the appropriate country in order to use the proceeds from such payments to carry out activities under section 1704 of this title.
(B) Rates of exchange
Payments in local currency shall be at rates of exchange that are no less favorable than the highest exchange rate legally obtainable in the country and that are no less favorable than the highest exchange rate obtainable by any other country.
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