[Code of Federal Regulations] [Title 26, Volume 10] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 26CFR1.989(b)-1] [Page 636] TITLE 26--INTERNAL REVENUE CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) PART 1_INCOME TAXES--Table of Contents Sec. 1.989(b)-1 Definition of weighted average exchange rate. 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 Sec. 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]