A bill to authorize the Secretary of Defense to adjust rates of pay for members of the Armed Forces stationed overseas in order to offset the effects of foreign currency fluctuations.

Directs the Secretary of Defense, on a quarterly basis, to adjust the rates of pay for members of the armed forces stationed overseas in order to offset the effects of foreign currency fluctuations against the value of the U.S. dollar.

Excludes from such adjustment the pay of members serving unaccompanied tours of duty overseas whose dependents are residing in the United States.