[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]