Competitive Exchange Rate Act of 1987

Competitive Exchange Rate Act of 1987 - Makes achievement of a competitive exchange rate for the dollar a top priority of the United States in international economic negotiations.

Directs the President, through an international conference, to negotiate with other countries to: (1) review the existing international exchange rate system; (2) develop an agenda for reform of that system to provide for long-term exchange rate stability; and (3) recommend proposals for better coordination of macroeconomic policies of the major industrialized nations and greater stability in trade, current account balances, and the exchange rates.

Requires the Secretary of the Treasury to submit to the House Committee on Banking, Finance and Urban Affairs and the Senate Committee on Banking, Housing, and Urban Affairs a biannual report on changes in exchange rates. Sets forth specified information to be included in such reports. Directs each Committee to consult with the Secretary and report to its House on the Secretary's intended policies.

Directs the Secretary to transmit to the Congress all official U.S. documents submitted to the International Monetary Fund in the course of any requested consultation with the United States and all Fund documents arising from that consultation.