FBAR Department of Treasury Exchange Rates 2020

FBAR Department of Treasury Exchange Rates 2022

FBAR Department of Treasury Exchange Rates 2022

FBAR Department of Treasury Exchange Rates 2022: Each year, the Department of Treasury publishes its updated foreign income exchange rates. While Taxpayers are not required to use these exchange rates, oftentimes the Department of Treasury Exchange rates are used for translating currency on forms such as the FBAR (FinCEN Form 114) and IRS Form 8938 (Foreign Account Tax Compliance Act) — the latter of which is filed with the IRS.

How to Convert to USD

As provided by FinCEN:

  • Monetary amounts: When recording the maximum value of accounts, record all amounts as U.S. Dollar amounts rounded up to the next whole dollar. The amount $15,265.25 would be recorded as $15,266. The maximum value of the account can be determined using the following steps.NOTE: After determining the value of the account, as described below, if the value results in a negative (minus) value, enter zero (0) in item 15, “Maximum account value.”

    • Step 1. Determine the maximum value of each account (in the currency of that account) during the calendar year being reported. The maximum value of an account is a reasonable approximation of the greatest value of currency or nonmonetary assets in the account during the calendar year. Periodic account statements may be relied on to determine the maximum value of the account, provided that the statements fairly reflect the maximum account value during the calendar year. For Item 15, if the filer had a financial interest in more than one account, each account must be valued separately. For an account denominated in U.S. Dollars, the maximum value of the account is the largest U.S. Dollar value of the account during the report year. 

    • Step 2. In the case of non-United States currency, convert the maximum account value for each account into United States dollars. Convert foreign currency by using the Treasury’s Financial Management Service rate (http://www.fiscal.treasury.gov/fsreports/rpt/treasRptRateExch/treasRptRateExch_home.htm ) for the last day of the calendar year.

    • If no Treasury Financial Management Service rate is available, use another verifiable exchange rate and provide the source of that rate. In valuing currency of a country that uses multiple exchange rates, use the rate that would apply if the currency in the account were converted into United States dollars on the last day of the calendar year. 

    • If the maximum account value of a single account or aggregate of the maximum account values of multiple accounts exceeds $10,000, an FBAR must be filed. An FBAR is not required to be filed if the person did not have $10,000 of maximum value or aggregate maximum value in foreign financial accounts at any time during the calendar year.

Department Treasury 2022 FBAR Exchange Rate

Please see the Department of Treasury Exchange Rates for 2022:

Country Currency Country – Currency Description Exchange Rate
Afghanistan Afghani Afghanistan-Afghani 89.11
Albania Lek Albania-Lek 106.5
Algeria Dinar Algeria-Dinar 136.467
Angola Kwanza Angola-Kwanza 503.65
Antigua & Barbuda E. Caribbean Dollar Antigua & Barbuda-E. Caribbean Dollar 2.7
Argentina Peso Argentina-Peso 183.0
Armenia Dram Armenia-Dram 400.0
Australia Dollar Australia-Dollar 1.471
Azerbaijan Manat Azerbaijan-Manat 1.7
Bahamas Dollar Bahamas-Dollar 1.0
Bahrain Dinar Bahrain-Dinar 0.377
Bangladesh Taka Bangladesh-Taka 105.0
Barbados Dollar Barbados-Dollar 2.02
Belarus New Ruble Belarus-New Ruble 2.518
Belize Dollar Belize-Dollar 2.0
Benin CFA Franc Benin-CFA Franc 614.84
Bermuda Dollar Bermuda-Dollar 1.0
Bolivia Boliviano Bolivia-Boliviano 6.86
Bosnia Marka Bosnia-Marka 1.83
Botswana Pula Botswana-Pula 12.739
Brazil Real Brazil-Real 5.286
Brunei Dollar Brunei-Dollar 1.34
Bulgaria Lev New Bulgaria-Lev New 1.83
Burkina Faso CFA Franc Burkina Faso-CFA Franc 614.84
Burma Kyat Burma-Kyat 2100.0
Burundi Franc Burundi-Franc 2045.3
Cambodia Riel Cambodia-Riel 4051.0
Cameroon CFA Franc Cameroon-CFA Franc 613.79
Canada Dollar Canada-Dollar 1.354
Cape Verde Escudo Cape Verde-Escudo 103.16
Cayman Island Dollar Cayman Island-Dollar 0.82
Central African Rep. CFA Franc Central African Rep.-CFA Franc 613.79
Chad CFA Franc Chad-CFA Franc 613.79
Chile Peso Chile-Peso 851.5
China Renminbi China-Renminbi 6.897
Colombia Peso Colombia-Peso 4845.83
Comoros Franc Comoros-Franc 461.6
Congo CFA Franc Congo-CFA Franc 613.79
Costa Rica Colon Costa Rica-Colon 591.36
Cote D’ivoire CFA Franc Cote D’ivoire-CFA Franc 614.84
Croatia KUNA Croatia-KUNA 6.87
Croatia Euro Croatia-Euro 0.925
Cuba Chavito Cuba-Chavito 1.0
Cuba Peso Cuba-Peso 24.0
Czech. Republic Koruna Czech. Republic-Koruna 22.102
Dem. Rep. of Congo Franc Dem. Rep. of Congo-Franc 2012.0
Denmark Krone Denmark-Krone 6.959
Djibouti Franc Djibouti-Franc 177.0
Dominican Republic Peso Dominican Republic-Peso 55.72
Ecuador Dolares Ecuador-Dolares 1.0
Egypt Pound Egypt-Pound 24.74
Egypt Pound Egypt-Pound 29.5
El Salvador Dollar El Salvador-Dollar 1.0
Equatorial Guinea CFA Franc Equatorial Guinea-CFA Franc 613.79
Eritrea Nakfa Eritrea-Nakfa 15.0
Ethiopia Birr Ethiopia-Birr 53.339
Euro Zone Euro Euro Zone-Euro 0.936
Fiji Dollar Fiji-Dollar 2.176
Gabon CFA Franc Gabon-CFA Franc 613.79
Gambia Dalasi Gambia-Dalasi 61.0
Georgia Lari Georgia-Lari 2.665
Ghana Cedi Ghana-Cedi 9.8
Ghana Cedi Ghana-Cedi 11.5
Grenada E.Caribbean Dollar Grenada-E.Caribbean Dollar 2.7
Guatemala Quetzal Guatemala-Quetzal 7.84
Guinea Franc Guinea-Franc 8554.0
Guinea Bissau CFA Franc Guinea Bissau-CFA Franc 614.84
Guyana Dollar Guyana-Dollar 215.0
Haiti Gourde Haiti-Gourde 145.0
Honduras Lempira Honduras-Lempira 24.552
Hong Kong Dollar Hong Kong-Dollar 7.797
Hungary Forint Hungary-Forint 374.63
Iceland Krona Iceland-Krona 141.61
India Rupee India-Rupee 82.599
Indonesia Rupiah Indonesia-Rupiah 15528.42
Iran Rial Iran-Rial 42000.0
Iraq Dinar Iraq-Dinar 1458.53
Israel Shekel Israel-Shekel 3.518
Jamaica Dollar Jamaica-Dollar 150.0
Japan Yen Japan-Yen 131.83
Jordan Dinar Jordan-Dinar 0.708
Kazakhstan Tenge Kazakhstan-Tenge 462.54
Kenya Shilling Kenya-Shilling 123.25
Korea Won Korea-Won 1252.61
Kuwait Dinar Kuwait-Dinar 0.306
Kyrgyzstan Som Kyrgyzstan-Som 85.68
Laos Kip Laos-Kip 17217.0
Lebanon Pound Lebanon-Pound 1500.0
Lesotho Maloti Lesotho-Maloti 16.948
Liberia Dollar Liberia-Dollar 153.5
Libya Dinar Libya-Dinar 4.817
Madagascar Ariary Madagascar-Ariary 4360.0
Malawi Kwacha Malawi-Kwacha 1035.49
Malaysia Ringgit Malaysia-Ringgit 4.4
Maldives Rufiyaa Maldives-Rufiyaa 15.42
Mali CFA Franc Mali-CFA Franc 614.84
Marshall Islands U.S. Dollar Marshall Islands-U.S. Dollar 1.0
Mauritania Ouguiya Mauritania-Ouguiya 37.0
Mauritius Rupee Mauritius-Rupee 43.85
Mexico Peso Mexico-Peso 19.546
Micronesia U.S. Dollar Micronesia-U.S. Dollar 1.0
Moldova LEU Moldova-LEU 19.08
Mongolia Tugrik Mongolia-Tugrik 3443.37
Morocco Dirham Morocco-Dirham 10.48
Mozambique Metical Mozambique-Metical 63.24
Nambia Dollar Nambia-Dollar 16.948
Nepal Rupee Nepal-Rupee 132.25
Netherlands Antilles Guilder Netherlands Antilles-Guilder 1.78
New Zealand Dollar New Zealand-Dollar 1.575
Nicaragua Cordoba Nicaragua-Cordoba 36.15
Niger CFA Franc Niger-CFA Franc 614.84
Nigeria Naira Nigeria-Naira 440.0
Norway Krone Norway-Krone 9.831
Oman Rial Oman-Rial 0.385
Pakistan Rupee Pakistan-Rupee 226.4
Panama Dolares Panama-Dolares 1.0
Papua New Guinea Kina Papua New Guinea-Kina 3.431
Paraguay Guarani Paraguay-Guarani 7309.61
Peru Sol Peru-Sol 3.786
Philippines Peso Philippines-Peso 55.606
Poland Zloty Poland-Zloty 4.38
Qatar Riyal Qatar-Riyal 3.64
Rep. of N Macedonia Dinar Rep. of N Macedonia-Dinar 57.56
Republic of Palau Dollar Republic of Palau-Dollar 1.0
Romania New Leu Romania-New Leu 4.627
Russia Ruble Russia-Ruble 71.481
Rwanda Franc Rwanda-Franc 1060.0
Sao Tome & Principe New Dobras Sao Tome & Principe-New Dobras 23.062
Saudi Arabia Riyal Saudi Arabia-Riyal 3.75
Senegal CFA Franc Senegal-CFA Franc 614.84
Serbia Dinar Serbia-Dinar 109.69
Seychelles Rupee Seychelles-Rupee 12.87
Sierra Leone Leone Sierra Leone-Leone 18.8
Singapore Dollar Singapore-Dollar 1.34
Solomon Islands Dollar Solomon Islands-Dollar 7.949
Somali Shilling Somali-Shilling 565.0
South Sudanese-Pound South-Sudanese-Pound 669.0
South Africa Rand South Africa-Rand 16.948
Sri Lanka Rupee Sri Lanka-Rupee 363.0
St. Lucia E. Caribbean Dollar St. Lucia-E. Caribbean Dollar 2.7
Sudan Pound Sudan-Pound 576.0
Suriname Dollar Suriname-Dollar 31.714
Swaziland Langeni Swaziland-Langeni 16.948
Sweden Krona Sweden-Krona 10.386
Switzerland Franc Switzerland-Franc 0.923
Syria Pound Syria-Pound 2510.0
Taiwan Dollar Taiwan-Dollar 30.648
Tajikistan Somoni Tajikistan-Somoni 10.16
Tanzania Shilling Tanzania-Shilling 2329.0
Thailand Baht Thailand-Baht 34.52
Timor Leste-Dili Timor-Leste-Dili 1.0
Togo CFA Franc Togo-CFA Franc 614.84
Tonga Pa’anga Tonga-Pa’anga 2.261
Trinidad & Tobago Dollar Trinidad & Tobago-Dollar 6.765
Tunisia Dinar Tunisia-Dinar 3.094
Turkey New Lira Turkey-New Lira 18.711
Turkmenistan New Manat Turkmenistan-New Manat 3.491
Uganda Shilling Uganda-Shilling 3715.0
Ukraine Hryvnia Ukraine-Hryvnia 36.569
United Arab Emirates Dirham United Arab Emirates-Dirham 3.673
United Kingdom Pound United Kingdom-Pound 0.83
Uruguay Peso Uruguay-Peso 39.95
Uzbekistan Som Uzbekistan-Som 11224.32
Vanuatu Vatu Vanuatu-Vatu 119.9
Venezuela Bolivar Soberano Venezuela-Bolivar Soberano 17.236
Venezuela Bolivar Soberano Venezuela-Bolivar Soberano 19.23
Venezuela Fuerte (OLD) Venezuela-Fuerte (OLD) 248832.0
Vietnam Dong Vietnam-Dong 23610.0
Western Samoa Tala Western Samoa-Tala 2.607
Yemen Rial Yemen-Rial 580.0
Zambia New Kwacha Zambia-New Kwacha 18.1
Zimbabwe RTGS Zimbabwe-RTGS 654.66

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