If the commercial invoice is in a foreign currency, the foreign currency shall be converted to U.S. dollars using the proclaimed rate or certified rate or rates effective on the _____.
How to get there
19 CFR 159.32: Date of exportationThe date of exportation for currency conversion shall be fixed in accordance with § 152.1(c) of this chapter.
Customs converts foreign-currency values using the proclaimed or certified rate in effect on the date of exportation (Part 159, Subpart C). The answer is C.
Why the other choices are wrong
A) Date of import and B) Date of entry: these matter for things like the rate of duty (generally the date of entry), but not for currency conversion.
D) Date of lading: lading can coincide with exportation, but the rule is tied to the date of exportation as fixed under § 152.1(c), not lading as such.
Trap!
Keep the dates apart: currency → date of exportation; duty rate → date of entry (or withdrawal from warehouse); quota → time of presentation. CBP likes to mix them up.
Sources: 19 CFR 159.32; 152.1(c) (eCFR).
CBP answer key: Answer C · 19 CFR 159.32Source: CBP past exams ↗