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19 U.S.C. § 1522 — Omitted

Federal law — U.S. Code and appendices · legal_authorities

19 U.S.C. § 1522 — Omitted

### Statutory Notes #### Codification Section, act June 17, 1930, ch. 497, title IV, § 522, 46 Stat. 739, amended section 372 of former Title 31. See [section 5151 of Title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5151&num=0&edition=prelim), Money and Finance.

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Source location: Title 19, Chapter 4, § 1522; chapter-004-tariff-act-of-1930.md

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5151 — Conversion of currency of foreign countries

**(a)** In this section— (1) “buying rate” means the buying rate in the market in New York, New York, for cable transfers payable in the currency of a foreign country to be converted. (2) when merchandise is exported on a day that banks are generally closed in New York, the buying rate at noon on the last prior business day is deemed to be the buying rate at noon on the day the merchandise is exported. **(b)** The value of coins of a foreign country expressed in United States money is the value of the pure metal of the standard coin of the foreign country. The Secretary of the Treasury shall estimate the values of standard coins of the country quarterly and publish the values on the first day of January, April, July, and October of each year. **(c)** Except as provided in this section, conversion of currency of a foreign country into United States currency for assessment and collection of duties on merchandise imported into the United States shall be made at values published by the Secretary under subsection (b) of this section for the quarter in which the merchandise is exported. **(d)** If the Secretary has not published a value for the quarter in which the merchandise is exported, or if the value published by the Secretary varies by at least 5 percent from a value measured by the buying rate at noon on the day the merchandise is exported, the conversion of the currency of the foreign country shall be made at a value— (1) equal to the buying rate at noon on the day the merchandise is exported; or (2) prescribed by regulation of the Secretary for the currency that is equal to the first buying rate certified for that currency by the Federal Reserve Bank of New York under subsection (e) of this section in the quarter in which the merchandise is exported, but only

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Federal law — U.S. Code and appendices · legal_authorities

19 U.S.C. § 1522 — Omitted

Page 249 TITLE 19—CUSTOMS DUTIES § 1524 EFFECTIVE DATE OF 1953 AMENDMENT; SAVINGS PROVISION Amendment by act Aug. 8, 1953, effective on and after thirtieth day following Aug. 8, 1953, and savings provi- sion, see notes set out under section 1304 of this title. EFFECTIVE DATE OF 1938 AMENDMENT Amendment by act June 25, 1938, effective on thir- tieth day following June 25, 1938, except as otherwise specifically provided, see section 37 of act June 25, 1938, set out as a note under section 1401 of this title. EFFECTIVE DATE OF 1934 AMENDMENT Act June 26, 1934, ch. 756, § 2(a), 48 Stat. 1225, provided that the permanent appropriations under the appro- priations titles listed in section 2(b) of such Act were repealed, effective July 1, 1935. CONSTRUCTION OF 1993 AMENDMENT Amendment by section 206 of Pub. L. 103–182 to be made after amendment by section 642(b) of Pub. L. 103–182 is executed, see section 212 of Pub. L. 103–182, formerly set out as a note under section 58c of this title. TRANSFER OF FUNCTIONS For transfer of functions, personnel, assets, and li- abilities of the United States Customs Service of the Department of the Treasury, including functions of the Secretary of the Treasury relating thereto, to the Sec- retary of Homeland Security, and for treatment of re- lated references, see sections 203(1), 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of Novem- ber 25, 2002, as modified, set out as a note under section 542 of Title 6. For establishment of U.S. Customs and Border Protection in the Department of Homeland Se- curity, treated as if included in Pub. L. 107–296 as of Nov. 25, 2002, see section 211 of Title 6, as amended gen- erally by Pub. L. 114–125, and section 8

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