Top

Foreign Currency to U.S. Dollars Exchange Rates | U.S. Treasury and IRS Published Safe Harbor Exchange Rates

Currency

The IRS does not have official exchange rates. For the convenience of taxpayers, however, the U.S. Department of the Treasury publishes averaged-out exchange rates of particular currencies and tax years.

Below are the safe harbor exchange rates published by the U.S. Department of the Treasury for use in the preparation of U.S. federal income tax returns. For your convenience, we have provided the direct conversion rates from 1 foreign currency to USD. In other words, simply multiply the foreign currency by the applicable rate below to convert to U.S. dollars.

undefined

For “spot rates” on specific dates, use this calculator:

Currency Converter by OANDA

For economically unstable areas where there is a more accurate black market rate, such as Venezuela, label it the “free market rate.” Treas. Reg. § 1.988-1(d)(4)(i).

Categories: 
Related Posts
  • How To Report Foreign Pension Income on a 1040 Form Read More
  • Late FBAR Filings: Understanding the Process and Finding Solutions for 2023 Read More
  • Is a Swedish Pension Taxable in the US? [2023] Read More
/