Executive Order 7312—Amendment of Executive Order No. 6928 of December 24, 1934

Section 3 (e) of Executive Order No. 6928 of December 24, 1934, 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:

"(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: Provided, that if in any country having such laws and regulations, the rate at which foreign currencies may be exchanged into the local currency is fixed on the basis of the currency of a third country, net salary and net allowances may be converted in a country other than that in which stationed and the loss so sustained shall be reimbursed, but in no such case in an amount greater than would have been reimbursable had net salary and net allowances been converted in the third country the currency of which is used as the basis for the rate at which foreign currencies may be exchanged into the currency of the country in which stationed."

This order shall be effective as of February 1, 1936.

FRANKLIN D. ROOSEVELT

The White House,
March 9, 1936.