image

Yearly Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars

For U.S. tax reporting purposes, you must translate foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. Please note that payments of U.S. tax must be remitted to the U.S. Internal Revenue Service (IRS) in U.S. dollars. Also note that the table below reflects the rates used for converting foreign income, but differ from the rates used to report foreign financial assets on the FBAR or FinCEN Form 114.
If you need to convert foreign currency in order to file the FBAR, please use the U.S. Treasury Reporting Rates of Exchange tables.


To convert from foreign currency to U.S. dollars, divide the foreign currency amount by the applicable yearly average exchange rate in the table below. To convert from U.S. dollars to foreign currency, multiply the U.S. dollar amount by the applicable yearly average exchange rate in the table below.

 

Yearly Average Exchange Rates

Country

Currency

2017

2016

2015

2014

2013

2012

Afghanistan

Afghani

71.086

70.645

63.653

59.771

57.822

53.130

Algeria

Dinar

115.876

114.431

104.883

84.242

83.339

81.301

Argentina

Peso

17.227

15.359

9.617

8.448

5.704

4.738

Australia

Dollar

1.358

1.400

1.345

1.154

1.078

1.005

Bahrain

Dinar

0.395

0.395

0.395

0.394

0.395

0.395

Brazil

Real

3.322

3.632

3.468

2.451

2.249

2.035

Canada

Dollar

1.350

1.379

1.329

1.149

1.071

1.040

Cayman Islands

Dollar

0.884

0.886

0.885

0.883

0.873

0.872

China

Yuan

7.030

6.910

6.489

6.394

6.446

6.573

Denmark

Krone

6.864

7.000

6.991

5.844

5.843

6.025

Egypt

Pound

18.586

10.462

8.044

7.399

7.185

6.348

Euro Zone

Euro

0.923

0.940

0.937

0.784

0.783

0.809

Hong Kong

Dollar

8.105

8.073

8.062

8.065

8.067

8.068

Hungary

Forint

285.583

293.083

290.638

242.076

232.771

234.421

Iceland

Krona

111.231

126.256

137.471

121.574

127.323

130.282

India

Rupee

67.809

69.956

66.768

63.469

60.936

55.911

Iraq

Dinar

1241.677

1236.453

1231.234

1228.786

1225.266

1224.581

Israel

New Shekel

3.746

3.997

4.052

3.723

3.759

4.014

Japan

Yen

116.667

113.138

125.911

110.101

101.517

83.008

Lebanon

Pound

1593.969

1593.639

1588.880

1591.284

1589.155

1583.096

Mexico

Peso

19.679

19.435

16.505

13.840

13.275

13.695

Morocco

Dirham

10.230

10.279

10.206

8.828

8.829

9.064

New Zealand

Dollar

1.465

1.494

1.492

1.255

1.270

1.285

Norway

Kroner

8.606

8.745

8.392

6.558

6.117

6.056

Qatar

Rial

3.850

3.791

3.790

3.794

3.796

3.798

Russia

Rouble

60.692

69.685

63.659

40.118

33.165

32.407

Saudi Arabia

Riyal

3.903

3.903

3.903

3.902

3.901

3.902

Singapore

Dollar

1.437

1.437

1.430

1.318

1.302

1.300

South Africa

 

Rand

13.859

15.319

13.281

11.286

10.037

8.553

South Korean

Won

1178.585

1211.121

1179.128

1098.233

1142.933

1175.380

Sweden

Krona

8.894

8.910

8.775

7.138

6.780

7.048

Switzerland

Franc

1.024

1.025

1.001

0.952

0.964

0.976

Taiwan

Dollar

31.683

33.586

33.089

31.566

30.945

30.849

Thailand

Baht

35.372

36.778

35.679

33.841

32.027

32.456

Tunisia

Dinar

2.513

2.237

2.044

1.771

1.695

1.629

Turkey

New Lira

3.794

3.146

2.834

2.276

1.982

1.874

United Arab Emirates

Dirham

3.821

3.821

3.821

3.821

3.821

3.821

United Kingdom

Pound

0.808

0.770

0.681

0.632

0.665

0.656

Venezuela

Bolivar (Fuerte)

10.452

9.447

6.562

6.555

6.312

4.473



If you need assistance with your US taxes, please complete the contact form below to schedule a FREE consultation:

logo