26 C.F.R. § 1.989(b)-1 Definition of weighted average exchange rate.
Title 26 - Internal Revenue
For purposes of section 989(b)(3) and (4), the term “weighted average exchange rate” means the simple average of the daily exchange rates (determined by reference to a qualified source of exchange rates within the meaning of §1.964–1(d)(5)), excluding weekends, holidays and any other nonbusiness days for the taxable year. [T.D. 8263, 54 FR 38664, Sept. 20, 1989. Redesignated by T.D. 8367, 56 FR 48437, Sept. 25, 1991; 57 FR 6060, Feb. 18, 1992]
Title 26: Internal Revenue
PART 1—INCOME TAXES
export trade corporations
§ 1.989(b)-1 Definition of weighted average exchange rate.
