What exchange rate should I use?

Posted by Steven Horton on Feb 5, 2016 in exchange rate, featured

For tax year 2017, the IRS’ official EUR to USD average exchange rate of 1.0834, and this is the exchange rate that we will use in preparing 2017 U.S Income Tax Returns. The 2017 year-end EUR to USD exchange rate used for the FBAR (US Treasury Form 114) and Form 8938 is 1.2005. The Federal Reserve’s official exchange rates for prior years 2015-2008 and the current 2017 IRS official exchange rate are listed below.

Historical Summary of Exchange Rates           Historical Summary of Exchange Rates

(Income Conversion on Tax Return):               (FinCEN Form 114 and Form 8938):

2017: 1.0834                                                               2017: 1.2005

2016: 1.0638                                                               2016: 1.0537

2015: 1.0672                                                               2015: 1.0881

2014: 1.2755                                                               2014: 1.2165

2013: 1.2771                                                               2013: 1.3774

2012: 1.2361                                                               2012: 1.3175

2011: 1.3369                                                               2011: 1.3072

2010: 1.2739                                                               2010: 1.3253

2009: 1.3369                                                               2009: 1.4333

2008: 1.4726                                                               2008: 1.4097

For the French tax year 2018 (Revenus de 2017), the Banque de France official USD to EUR exchange rate is 1.1297, and this is the exchange rate that we will use in preparing 2017 French Income Tax Returns. For preparing 2018 French IFI returns, we suggest that you use the year end exchange rate of 1.2005 USD/EUR.