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URLhttps://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates
Last Crawled2026-04-17 09:50:29 (23 hours ago)
First Indexed2016-05-25 13:39:28 (9 years ago)
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Meta TitleYearly average currency exchange rates | Internal Revenue Service
Meta DescriptionIncome and expense transactions must be reported in U.S. dollars on U.S. tax returns. Review a chart of yearly average currency exchange rates.
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Translating foreign currency into U.S. dollars You must express the amounts you report on your U.S. tax return in U.S. dollars. Therefore, you must translate foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. In general, use the exchange rate prevailing (i.e., the spot rate) when you receive, pay or accrue the item. The only exception relates to some qualified business units (QBUs) , which are generally allowed to use the currency of a foreign country. If you have a QBU with a functional currency that is not the U.S. dollar, make all income determinations in the QBU's functional currency, and where appropriate, translate such income or loss at the appropriate exchange rate. A taxpayer may also need to recognize foreign currency gain or loss on certain foreign currency transactions. See section 988 of the Internal Revenue Code and the regulations thereunder. Note: Payments of U.S. tax must be remitted to the U.S. Internal Revenue Service (IRS) in U.S. dollars. Currency exchange rates The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently. When valuing currency of a foreign country that uses multiple exchange rates, use the rate that applies to your specific facts and circumstances. Note: The exchange rates referenced on this page do not apply when making payments of U.S. taxes to the IRS. If the IRS receives U.S. tax payments in a foreign currency, the exchange rate used by the IRS to convert the foreign currency into U.S. dollars is based on the date the foreign currency is converted to U.S. dollars by the bank processing the payment, not the date the foreign currency payment is received by the IRS. Yearly average currency exchange rates For additional exchange rates not listed below , refer to the governmental and external resources listed on the Foreign currency and currency exchange rates  page or any other posted exchange rate (that is used consistently).  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 for converting foreign currencies into U.S. dollars Country Currency 2025 2024 2023 2022 2021 Afghanistan Afghani 69.637 70.649 82.635 90.084 83.484 Algeria Dinar 131.627 134.124 135.933 142.123 135.011 Argentina Peso 1243.369 915.161 296.154 130.792 95.098 Australia Dollar 1.551 1.516 1.506 1.442 1.332 Bahrain Dinar 0.377 0.377 0.377 0.377 0.377 Brazil Real 5.593 5.392 4.994 5.165 5.395 Canada Dollar 1.398 1.370 1.350 1.301 1.254 Cayman Islands Dollar 0.821 0.833 0.833 0.833 0.833 China Yuan 7.129 7.189 7.075 6.730 6.452 Denmark Krone 6.617 6.896 6.890 7.077 6.290 Egypt Pound 49.233 45.345 30.651 19.208 15.697 Euro Zone Euro 0.886 0,924 0.924 0.951 0.846 Hong Kong Dollar 7.796 7.803 7.829 7.831 7.773 Hungary Forint 352.869 365.603 353.020 372.775 303.292 Iceland Krona 128.262 137.958 137.857 135.296 126.986 India Rupee 87.133 83.677 82.572 78.598 73.936 Iraq Dinar 1309.753 1309.744 1376.529 1459.51 1460.133 Israel New Shekel 3.451 3.701 3.687 3.361 3.232 Japan Yen 149.632 151.353 140.511 131.454 109.817 Lebanon Pound 89568.540 78958.611 13730.988 1515.669 1519.228 Mexico Peso 19.212 18.330 17.733 20.110 20.284 Morocco Dirham 9.344 9.937 10.134 10.275 8.995 New Zealand Dollar 1.719 1.654 1.630 1.578 1.415 Norway Kroner 10.392 10.756 10.564 9.619 8.598 Qatar Rial 3.643 3.643 3.643 3.644 3.644 Russia Ruble 83.755 92.837 85.509 69.896 .73.686 Saudi Arabia Riyal 3.751 3.752 3.752 3.755 3.751 Singapore Dollar 1.307 1.336 1.343 1.379 1.344 South Africa Rand 17.884 18.326 18.457 16.377 14.789 South Korean Won 1421.779 1364.153 1306.686 1291.729 1144.883 Sweden Krona 9.813 10.577 10.613 10.122 8.584 Switzerland Franc 0.831 0.881 0.899 0.955 0.914 Taiwan Dollar 31.167 32.117 31.160 29.813 27.932 Thailand Baht 32.870 35.267 34.802 35.044 31.997 Tunisia Dinar 2.996 3.111 3.103 3.082 2.778 Turkey New Lira 39.546 32.867 23.824 16.572 8.904 United Arab Emirates Dirham 3.673 3.673 3.673 3.673 3.673 United Kingdom Pound 0.759 0.783 0.804 0.811 0.727 Venezuela Bolivar (Fuerte) 13057596875331350.0 3833558362078.0 2863377461538.5 666470505836.6 232298866894.8 Related Foreign currency and currency exchange rates
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Yearly average currency exchange rates # Yearly average currency exchange rates - [English](https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [Español](https://www.irs.gov/es/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [中文 (简体)](https://www.irs.gov/zh-hans/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [中文 (繁體)](https://www.irs.gov/zh-hant/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [한국어](https://www.irs.gov/ko/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [Русский](https://www.irs.gov/ru/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [Tiếng Việt](https://www.irs.gov/vi/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - [Kreyòl ayisyen](https://www.irs.gov/ht/individuals/international-taxpayers/yearly-average-currency-exchange-rates) ### More In File - [Individuals](https://www.irs.gov/individual-tax-filing "Individuals") - [Businesses and self-employed](https://www.irs.gov/businesses "Businesses and self-employed") - [Charities and nonprofits](https://www.irs.gov/charities-and-nonprofits "Charities and nonprofits") - [International taxpayers](https://www.irs.gov/individuals/international-taxpayers "International taxpayers") - [Individuals - international](https://www.irs.gov/individuals/international-individuals "Individuals - international") - [Businesses - international](https://www.irs.gov/businesses/international-business "Businesses - international") - [Foreign Account Tax Compliance Act (FATCA)](https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatca "Foreign Account Tax Compliance Act (FATCA)") - [Governmental liaisons](https://www.irs.gov/government-entities/governmental-liaisons "Governmental liaisons") - [Federal, state and local governments](https://www.irs.gov/government-entities/federal-state-local-governments "Federal, state and local governments") - [Indian tribal governments](https://www.irs.gov/government-entities/indian-tribal-governments "Indian tribal governments") - [Tax exempt bonds](https://www.irs.gov/tax-exempt-bonds "Tax exempt bonds") - [Taxpayer identification numbers (TIN)](https://www.irs.gov/tin/taxpayer-identification-numbers-tin "Taxpayer identification numbers (TIN)") ## Translating foreign currency into U.S. dollars You must express the amounts you report on your U.S. tax return in U.S. dollars. Therefore, you must translate foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. In general, use the exchange rate prevailing (i.e., the spot rate) when you receive, pay or accrue the item. The only exception relates to some [qualified business units (QBUs)](https://www.irs.gov/irb/2006-42_IRB "Internal Revenue Bulletin: 2006-42"), which are generally allowed to use the currency of a foreign country. If you have a QBU with a functional currency that is not the U.S. dollar, make all income determinations in the QBU's functional currency, and where appropriate, translate such income or loss at the appropriate exchange rate. A taxpayer may also need to recognize foreign currency gain or loss on certain foreign currency transactions. See section 988 of the Internal Revenue Code and the regulations thereunder. **Note:** Payments of U.S. tax must be remitted to the U.S. Internal Revenue Service (IRS) in U.S. dollars. ## Currency exchange rates **The Internal Revenue Service has no official exchange rate.** Generally, it accepts any posted exchange rate that is used consistently. When valuing currency of a foreign country that uses multiple exchange rates, use the rate that applies to your specific facts and circumstances. **Note:** The exchange rates referenced on this page do **not** apply when making payments of U.S. taxes to the IRS. If the IRS receives U.S. tax payments in a foreign currency, the exchange rate used by the IRS to convert the foreign currency into U.S. dollars is based on the date the foreign currency is converted to U.S. dollars by the bank processing the payment, not the date the foreign currency payment is received by the IRS. ## Yearly average currency exchange rates For additional exchange **rates not listed below**, refer to the governmental and external resources listed on the [Foreign currency and currency exchange rates](https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates "Foreign currency and currency exchange rates") page or any other posted exchange rate (that is used consistently). 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 for converting foreign currencies into U.S. dollars | Country | Currency | 2025 | 2024 | 2023 | 2022 | 2021 | |---|---|---|---|---|---|---| | **Afghanistan** | Afghani | 69\.637 | 70\.649 | 82\.635 | 90\.084 | 83\.484 | | **Algeria** | Dinar | 131\.627 | 134\.124 | 135\.933 | 142\.123 | 135\.011 | | **Argentina** | Peso | 1243\.369 | 915\.161 | 296\.154 | 130\.792 | 95\.098 | | **Australia** | Dollar | 1\.551 | 1\.516 | 1\.506 | 1\.442 | 1\.332 | | **Bahrain** | Dinar | 0\.377 | 0\.377 | 0\.377 | 0\.377 | 0\.377 | | **Brazil** | Real | 5\.593 | 5\.392 | 4\.994 | 5\.165 | 5\.395 | | **Canada** | Dollar | 1\.398 | 1\.370 | 1\.350 | 1\.301 | 1\.254 | | **Cayman Islands** | Dollar | 0\.821 | 0\.833 | 0\.833 | 0\.833 | 0\.833 | | **China** | Yuan | 7\.129 | 7\.189 | 7\.075 | 6\.730 | 6\.452 | | **Denmark** | Krone | 6\.617 | 6\.896 | 6\.890 | 7\.077 | 6\.290 | | **Egypt** | Pound | 49\.233 | 45\.345 | 30\.651 | 19\.208 | 15\.697 | | **Euro Zone** | Euro | 0\.886 | 0,924 | 0\.924 | 0\.951 | 0\.846 | | **Hong Kong** | Dollar | 7\.796 | 7\.803 | 7\.829 | 7\.831 | 7\.773 | | **Hungary** | Forint | 352\.869 | 365\.603 | 353\.020 | 372\.775 | 303\.292 | | **Iceland** | Krona | 128\.262 | 137\.958 | 137\.857 | 135\.296 | 126\.986 | | **India** | Rupee | 87\.133 | 83\.677 | 82\.572 | 78\.598 | 73\.936 | | **Iraq** | Dinar | 1309\.753 | 1309\.744 | 1376\.529 | 1459\.51 | 1460\.133 | | **Israel** | New Shekel | 3\.451 | 3\.701 | 3\.687 | 3\.361 | 3\.232 | | **Japan** | Yen | 149\.632 | 151\.353 | 140\.511 | 131\.454 | 109\.817 | | **Lebanon** | Pound | 89568\.540 | 78958\.611 | 13730\.988 | 1515\.669 | 1519\.228 | | **Mexico** | Peso | 19\.212 | 18\.330 | 17\.733 | 20\.110 | 20\.284 | | **Morocco** | Dirham | 9\.344 | 9\.937 | 10\.134 | 10\.275 | 8\.995 | | **New Zealand** | Dollar | 1\.719 | 1\.654 | 1\.630 | 1\.578 | 1\.415 | | **Norway** | Kroner | 10\.392 | 10\.756 | 10\.564 | 9\.619 | 8\.598 | | **Qatar** | Rial | 3\.643 | 3\.643 | 3\.643 | 3\.644 | 3\.644 | | **Russia** | Ruble | 83\.755 | 92\.837 | 85\.509 | 69\.896 | .73.686 | | **Saudi Arabia** | Riyal | 3\.751 | 3\.752 | 3\.752 | 3\.755 | 3\.751 | | **Singapore** | Dollar | 1\.307 | 1\.336 | 1\.343 | 1\.379 | 1\.344 | | **South Africa** | Rand | 17\.884 | 18\.326 | 18\.457 | 16\.377 | 14\.789 | | **South Korean** | Won | 1421\.779 | 1364\.153 | 1306\.686 | 1291\.729 | 1144\.883 | | **Sweden** | Krona | 9\.813 | 10\.577 | 10\.613 | 10\.122 | 8\.584 | | **Switzerland** | Franc | 0\.831 | 0\.881 | 0\.899 | 0\.955 | 0\.914 | | **Taiwan** | Dollar | 31\.167 | 32\.117 | 31\.160 | 29\.813 | 27\.932 | | **Thailand** | Baht | 32\.870 | 35\.267 | 34\.802 | 35\.044 | 31\.997 | | **Tunisia** | Dinar | 2\.996 | 3\.111 | 3\.103 | 3\.082 | 2\.778 | | **Turkey** | New Lira | 39\.546 | 32\.867 | 23\.824 | 16\.572 | 8\.904 | | **United Arab Emirates** | Dirham | 3\.673 | 3\.673 | 3\.673 | 3\.673 | 3\.673 | | **United Kingdom** | Pound | 0\.759 | 0\.783 | 0\.804 | 0\.811 | 0\.727 | | **Venezuela** | Bolivar (Fuerte) | 13057596875331350.0 | 3833558362078.0 | 2863377461538.5 | 666470505836.6 | 232298866894.8 | ## Related - [Foreign currency and currency exchange rates](https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates "Foreign currency and currency exchange rates") ### Small Business/Self-Employed [Industries Professions](https://www.irs.gov/businesses/small-businesses-self-employed/industries-professions-and-business-tax-centers) [International taxpayers](https://www.irs.gov/individuals/international-taxpayers) ### Online Tools & Updates [International taxpayers videos](https://www.irs.gov/individuals/international-taxpayers/international-taxpayers-videos) [International taxpayers news releases](https://www.irs.gov/individuals/international-taxpayers/international-taxpayers-news-releases) [International taxpayers interactive tools](https://www.irs.gov/individuals/international-taxpayers/international-taxpayers-interactive-tools) Page Last Reviewed or Updated: 24-Feb-2026 - [Share](https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates) - 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Readable Markdown
## Translating foreign currency into U.S. dollars You must express the amounts you report on your U.S. tax return in U.S. dollars. Therefore, you must translate foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. In general, use the exchange rate prevailing (i.e., the spot rate) when you receive, pay or accrue the item. The only exception relates to some [qualified business units (QBUs)](https://www.irs.gov/irb/2006-42_IRB "Internal Revenue Bulletin: 2006-42"), which are generally allowed to use the currency of a foreign country. If you have a QBU with a functional currency that is not the U.S. dollar, make all income determinations in the QBU's functional currency, and where appropriate, translate such income or loss at the appropriate exchange rate. A taxpayer may also need to recognize foreign currency gain or loss on certain foreign currency transactions. See section 988 of the Internal Revenue Code and the regulations thereunder. **Note:** Payments of U.S. tax must be remitted to the U.S. Internal Revenue Service (IRS) in U.S. dollars. ## Currency exchange rates **The Internal Revenue Service has no official exchange rate.** Generally, it accepts any posted exchange rate that is used consistently. When valuing currency of a foreign country that uses multiple exchange rates, use the rate that applies to your specific facts and circumstances. **Note:** The exchange rates referenced on this page do **not** apply when making payments of U.S. taxes to the IRS. If the IRS receives U.S. tax payments in a foreign currency, the exchange rate used by the IRS to convert the foreign currency into U.S. dollars is based on the date the foreign currency is converted to U.S. dollars by the bank processing the payment, not the date the foreign currency payment is received by the IRS. ## Yearly average currency exchange rates For additional exchange **rates not listed below**, refer to the governmental and external resources listed on the [Foreign currency and currency exchange rates](https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates "Foreign currency and currency exchange rates") page or any other posted exchange rate (that is used consistently). 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 for converting foreign currencies into U.S. dollars | Country | Currency | 2025 | 2024 | 2023 | 2022 | 2021 | |---|---|---|---|---|---|---| | **Afghanistan** | Afghani | 69\.637 | 70\.649 | 82\.635 | 90\.084 | 83\.484 | | **Algeria** | Dinar | 131\.627 | 134\.124 | 135\.933 | 142\.123 | 135\.011 | | **Argentina** | Peso | 1243\.369 | 915\.161 | 296\.154 | 130\.792 | 95\.098 | | **Australia** | Dollar | 1\.551 | 1\.516 | 1\.506 | 1\.442 | 1\.332 | | **Bahrain** | Dinar | 0\.377 | 0\.377 | 0\.377 | 0\.377 | 0\.377 | | **Brazil** | Real | 5\.593 | 5\.392 | 4\.994 | 5\.165 | 5\.395 | | **Canada** | Dollar | 1\.398 | 1\.370 | 1\.350 | 1\.301 | 1\.254 | | **Cayman Islands** | Dollar | 0\.821 | 0\.833 | 0\.833 | 0\.833 | 0\.833 | | **China** | Yuan | 7\.129 | 7\.189 | 7\.075 | 6\.730 | 6\.452 | | **Denmark** | Krone | 6\.617 | 6\.896 | 6\.890 | 7\.077 | 6\.290 | | **Egypt** | Pound | 49\.233 | 45\.345 | 30\.651 | 19\.208 | 15\.697 | | **Euro Zone** | Euro | 0\.886 | 0,924 | 0\.924 | 0\.951 | 0\.846 | | **Hong Kong** | Dollar | 7\.796 | 7\.803 | 7\.829 | 7\.831 | 7\.773 | | **Hungary** | Forint | 352\.869 | 365\.603 | 353\.020 | 372\.775 | 303\.292 | | **Iceland** | Krona | 128\.262 | 137\.958 | 137\.857 | 135\.296 | 126\.986 | | **India** | Rupee | 87\.133 | 83\.677 | 82\.572 | 78\.598 | 73\.936 | | **Iraq** | Dinar | 1309\.753 | 1309\.744 | 1376\.529 | 1459\.51 | 1460\.133 | | **Israel** | New Shekel | 3\.451 | 3\.701 | 3\.687 | 3\.361 | 3\.232 | | **Japan** | Yen | 149\.632 | 151\.353 | 140\.511 | 131\.454 | 109\.817 | | **Lebanon** | Pound | 89568\.540 | 78958\.611 | 13730\.988 | 1515\.669 | 1519\.228 | | **Mexico** | Peso | 19\.212 | 18\.330 | 17\.733 | 20\.110 | 20\.284 | | **Morocco** | Dirham | 9\.344 | 9\.937 | 10\.134 | 10\.275 | 8\.995 | | **New Zealand** | Dollar | 1\.719 | 1\.654 | 1\.630 | 1\.578 | 1\.415 | | **Norway** | Kroner | 10\.392 | 10\.756 | 10\.564 | 9\.619 | 8\.598 | | **Qatar** | Rial | 3\.643 | 3\.643 | 3\.643 | 3\.644 | 3\.644 | | **Russia** | Ruble | 83\.755 | 92\.837 | 85\.509 | 69\.896 | .73.686 | | **Saudi Arabia** | Riyal | 3\.751 | 3\.752 | 3\.752 | 3\.755 | 3\.751 | | **Singapore** | Dollar | 1\.307 | 1\.336 | 1\.343 | 1\.379 | 1\.344 | | **South Africa** | Rand | 17\.884 | 18\.326 | 18\.457 | 16\.377 | 14\.789 | | **South Korean** | Won | 1421\.779 | 1364\.153 | 1306\.686 | 1291\.729 | 1144\.883 | | **Sweden** | Krona | 9\.813 | 10\.577 | 10\.613 | 10\.122 | 8\.584 | | **Switzerland** | Franc | 0\.831 | 0\.881 | 0\.899 | 0\.955 | 0\.914 | | **Taiwan** | Dollar | 31\.167 | 32\.117 | 31\.160 | 29\.813 | 27\.932 | | **Thailand** | Baht | 32\.870 | 35\.267 | 34\.802 | 35\.044 | 31\.997 | | **Tunisia** | Dinar | 2\.996 | 3\.111 | 3\.103 | 3\.082 | 2\.778 | | **Turkey** | New Lira | 39\.546 | 32\.867 | 23\.824 | 16\.572 | 8\.904 | | **United Arab Emirates** | Dirham | 3\.673 | 3\.673 | 3\.673 | 3\.673 | 3\.673 | | **United Kingdom** | Pound | 0\.759 | 0\.783 | 0\.804 | 0\.811 | 0\.727 | | **Venezuela** | Bolivar (Fuerte) | 13057596875331350.0 | 3833558362078.0 | 2863377461538.5 | 666470505836.6 | 232298866894.8 | ## Related - [Foreign currency and currency exchange rates](https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates "Foreign currency and currency exchange rates")
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