IRS Currency Exchange Rates and Rules

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. These are the direct conversion rates from 1 foreign currency to USD.

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.” See Treas. Reg. § 1.988-1(d)(4)(i).


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