Fair Currency Practices Act of 2005

[AI summary unavailable — showing source text] Fair Currency Practices Act of 2005 - Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 with respect to bilateral negotiations with countries considered to manipulate the rate of exchange between their currency and the U.S. dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade. Modifies the preconditions for the initiation of negotiations by the Secretary of the Treasury to make them alternative rather than joint. (Requires the Secretary to consider that such manipulation is occurring with respect to countries that possess material global current account surpluses or (currently, and) significant bilateral trade surpluses with the United States.) Declares that a country shall be considered to be manipulating the rate of exchange between its currency and the U.S. dollar if there is a protracted large-scale intervention in one direction in the exchange markets. Authorizes the Secretary to find that a country is manipulating the rate of exchange based on any other factor or combination of factors. Requires the Secretary to examine and report to Congress on the trade s…