FBAR Exchange Rate & Conversions (New)
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FBAR Exchange Rate
FBAR Exchange Rate: The FBAR is the FinCEN Form 114. FinCEN is the Financial Crimes Enforcement Network, and the 114 Form is otherwise known as a Foreign Bank and Financial Account Form — and a major headache for U.S. Person Account Holders worldwide. Since the FinCEN is not an IRS form per se (although the IRS does enforce the filing requirements and FBAR Penalties), it is important to understand which exchange rate to use.
Generally, the Department of Treasury exchange rates are the preferred method, using the year-end rates.
Department of Treasury FBAR Exchange Rate
As provided by FinCEN:
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.”
Department Treasury 2021 FBAR Exchange Rate
Please see the Department of Treasury Exchange Rates for 2021:
| Country | Currency | Country – Currency Description | Exchange Rate |
| Afghanistan | Afghani | Afghanistan-Afghani | 103.4 |
| Albania | Lek | Albania-Lek | 105.95 |
| Algeria | Dinar | Algeria-Dinar | 138.284 |
| Angola | Kwanza | Angola-Kwanza | 562.44 |
| Antigua & Barbuda | E. Caribbean Dollar. | Antigua & Barbuda-E. Caribbean Dollar. | 2.7 |
| Argentina | Peso | Argentina-Peso | 107.75 |
| Armenia | Dram | Armenia-Dram | 485.0 |
| Australia | Dollar | Australia-Dollar | 1.375 |
| Azerbaijan | Manat | Azerbaijan-Manat | 1.7 |
| Bahamas | Dollar | Bahamas-Dollar | 1.0 |
| Bahrain | Dinar | Bahrain-Dinar | 0.377 |
| Bangladesh | Taka | Bangladesh-Taka | 86.0 |
| Barbados | Dollar | Barbados-Dollar | 2.02 |
| Belarus | New Ruble | Belarus-New Ruble | 2.544 |
| Belize | Dollar | Belize-Dollar | 2.0 |
| Benin | CFA Franc | Benin-CFA Franc | 581.84 |
| Bermuda | Dollar | Bermuda-Dollar | 1.0 |
| Bolivia | Boliviano | Bolivia-Boliviano | 6.82 |
| Bosnia | Marka | Bosnia-Marka | 1.724 |
| Botswana | Pula | Botswana-Pula | 11.71 |
| Brazil | Real | Brazil-Real | 5.668 |
| Brunei | Dollar | Brunei-Dollar | 1.352 |
| Bulgaria | Lev New | Bulgaria-Lev New | 1.724 |
| Burkina Faso | CFA Franc | Burkina Faso-CFA Franc | 581.84 |
| Burma | Kyat | Burma-Kyat | 1769.5 |
| Burundi | Franc | Burundi-Franc | 1989.1 |
| Cambodia | Riel | Cambodia-Riel | 4051.0 |
| Cameroon | CFA Franc | Cameroon-CFA Franc | 578.24 |
| Canada | Dollar | Canada-Dollar | 1.277 |
| Cape Verde | Escudo | Cape Verde-Escudo | 97.22 |
| Cayman Island | Dollar | Cayman Island-Dollar | 0.82 |
| Central African Rep. | CFA Franc | Central African Rep.-CFA Franc | 578.24 |
| Chad | CFA Franc | Chad-CFA Franc | 578.24 |
| Chile | Peso | Chile-Peso | 842.5 |
| China | Renminbi | China-Renminbi | 6.373 |
| Colombia | Peso | Colombia-Peso | 4030.43 |
| Comoros | Franc | Comoros-Franc | 434.73 |
| Congo | CFA Franc | Congo-CFA Franc | 578.24 |
| Costa Rica | Colon | Costa Rica-Colon | 638.27 |
| Cote D’ivoire | CFA Franc | Cote D’ivoire-CFA Franc | 581.84 |
| Croatia | KUNA | Croatia-KUNA | 6.45 |
| Cuba | Chavito | Cuba-Chavito | 1.0 |
| Cuba | Peso | Cuba-Peso | 1.0 |
| Czech. Republic | Koruna | Czech. Republic-Koruna | 21.417 |
| Dem. Rep. of Congo | Franc | Dem. Rep. of Congo-Franc | 1987.8 |
| Denmark | Krone | Denmark-Krone | 6.556 |
| Djibouti | Franc | Djibouti-Franc | 177.0 |
| Dominican Republic | Peso | Dominican Republic-Peso | 56.79 |
| Ecuador | Dolares | Ecuador-Dolares | 1.0 |
| Egypt | Pound | Egypt-Pound | 15.68 |
| El Salvador | Dollar | El Salvador-Dollar | 1.0 |
| Equatorial Guinea | CFA Franc | Equatorial Guinea-CFA Franc | 578.24 |
| Eritrea | Nakfa | Eritrea-Nakfa | 15.0 |
| Ethiopia | Birr | Ethiopia-Birr | 49.132 |
| Euro Zone | Euro | Euro Zone-Euro | 0.882 |
| Fiji | Dollar | Fiji-Dollar | 2.103 |
| Gabon | CFA Franc | Gabon-CFA Franc | 578.24 |
| Gambia | Dalasi | Gambia-Dalasi | 52.0 |
| Georgia | Lari | Georgia-Lari | 3.075 |
| Ghana | Cedi | Ghana-Cedi | 6.05 |
| Grenada | E.Caribbean Dollar | Grenada-E.Caribbean Dollar | 2.7 |
| Guatemala | Quetzal | Guatemala-Quetzal | 7.7 |
| Guinea | Franc | Guinea-Franc | 9234.2 |
| Guinea Bissau | CFA Franc | Guinea Bissau-CFA Franc | 581.84 |
| Guyana | Dollar | Guyana-Dollar | 215.0 |
| Haiti | Gourde | Haiti-Gourde | 99.771 |
| Honduras | Lempira | Honduras-Lempira | 24.254 |
| Hong Kong | Dollar | Hong Kong-Dollar | 7.799 |
| Hungary | Forint | Hungary-Forint | 326.32 |
| Iceland | Krona | Iceland-Krona | 129.98 |
| India | Rupee | India-Rupee | 74.343 |
| Indonesia | Rupiah | Indonesia-Rupiah | 14195.28 |
| Iran | Rial | Iran-Rial | 42000.0 |
| Iraq | Dinar | Iraq-Dinar | 1458.54 |
| Israel | Shekel | Israel-Shekel | 3.099 |
| Jamaica | Dollar | Jamaica-Dollar | 155.0 |
| Japan | Yen | Japan-Yen | 115.04 |
| Jordan | Dinar | Jordan-Dinar | 0.708 |
| Kazakhstan | Tenge | Kazakhstan-Tenge | 436.88 |
| Kenya | Shilling | Kenya-Shilling | 113.05 |
| Korea | Won | Korea-Won | 1188.92 |
| Kuwait | Dinar | Kuwait-Dinar | 0.302 |
| Kyrgyzstan | Som | Kyrgyzstan-Som | 84.791 |
| Laos | Kip | Laos-Kip | 11148.8 |
| Lebanon | Pound | Lebanon-Pound | 1500.0 |
| Lesotho | Maloti | Lesotho-Maloti | 15.882 |
| Liberia | Dollar | Liberia-Dollar | 143.7 |
| Libya | Dinar | Libya-Dinar | 4.587 |
| Madagascar | Ariary | Madagascar-Ariary | 3902.0 |
| Malawi | Kwacha | Malawi-Kwacha | 920.0 |
| Malaysia | Ringgit | Malaysia-Ringgit | 4.175 |
| Maldives | Rufiyaa | Maldives-Rufiyaa | 15.42 |
| Mali | CFA Franc | Mali-CFA Franc | 581.84 |
| Marshall Islands | U.S. Dollar | Marshall Islands-U.S. Dollar | 1.0 |
| Mauritania | Ouguiya | Mauritania-Ouguiya | 37.0 |
| Mauritius | Rupee | Mauritius-Rupee | 43.75 |
| Mexico | Peso | Mexico-Peso | 20.531 |
| Micronesia | U.S. Dollar | Micronesia-U.S. Dollar | 1.0 |
| Moldova | LEU | Moldova-LEU | 17.637 |
| Mongolia | Tugrik | Mongolia-Tugrik | 2848.63 |
| Morocco | Dirham | Morocco-Dirham | 9.271 |
| Mozambique | Metical | Mozambique-Metical | 63.2 |
| Nambia | Dollar | Nambia-Dollar | 15.882 |
| Nepal | Rupee | Nepal-Rupee | 119.35 |
| Netherlands Antilles | Guilder | Netherlands Antilles-Guilder | 1.78 |
| New Zealand | Dollar | New Zealand-Dollar | 1.46 |
| Nicaragua | Cordoba | Nicaragua-Cordoba | 35.5 |
| Niger | CFA Franc | Niger-CFA Franc | 581.84 |
| Nigeria | Naira | Nigeria-Naira | 405.0 |
| Norway | Krone | Norway-Krone | 8.778 |
| Oman | Rial | Oman-Rial | 0.385 |
| Pakistan | Rupee | Pakistan-Rupee | 177.97 |
| Panama | Dolares | Panama-Dolares | 1.0 |
| Papua New Guinea | Kina | Papua New Guinea-Kina | 3.509 |
| Paraguay | Guarani | Paraguay-Guarani | 6854.0 |
| Peru | Sol | Peru-Sol | 3.969 |
| Philippines | Peso | Philippines-Peso | 51.03 |
| Poland | Zloty | Poland-Zloty | 4.053 |
| Qatar | Riyal | Qatar-Riyal | 3.64 |
| Rep. of N Macedonia | Dinar | Rep. of N Macedonia-Dinar | 54.23 |
| Republic of Palau | Dollar | Republic of Palau-Dollar | 1.0 |
| Romania | New Leu | Romania-New Leu | 4.361 |
| Russia | Ruble | Russia-Ruble | 74.999 |
| Rwanda | Franc | Rwanda-Franc | 1000.0 |
| Sao Tome & Principe | New Dobras | Sao Tome & Principe-New Dobras | 21.623 |
| Saudi Arabia | Riyal | Saudi Arabia-Riyal | 3.75 |
| Senegal | CFA Franc | Senegal-CFA Franc | 581.84 |
| Serbia | Dinar | Serbia-Dinar | 103.58 |
| Seychelles | Rupee | Seychelles-Rupee | 13.33 |
| Sierra Leone | Leone | Sierra Leone-Leone | 11221.7 |
| Singapore | Dollar | Singapore-Dollar | 1.352 |
| Solomon Islands | Dollar | Solomon Islands-Dollar | 7.886 |
| Somali | Shilling | Somali-Shilling | 575.0 |
| South | Sudanese-Pound | South-Sudanese-Pound | 421.0 |
| South Africa | Rand | South Africa-Rand | 15.882 |
| Sri Lanka | Rupee | Sri Lanka-Rupee | 202.75 |
| St. Lucia | E. Caribbean Dollar | St. Lucia-E. Caribbean Dollar | 2.7 |
| Sudan | Pound | Sudan-Pound | 449.0 |
| Suriname | Dollar | Suriname-Dollar | 19.531 |
| Swaziland | Langeni | Swaziland-Langeni | 15.882 |
| Sweden | Krona | Sweden-Krona | 9.025 |
| Switzerland | Franc | Switzerland-Franc | 0.914 |
| Syria | Pound | Syria-Pound | 2511.0 |
| Taiwan | Dollar | Taiwan-Dollar | 27.707 |
| Tajikistan | Somoni | Tajikistan-Somoni | 11.28 |
| Tanzania | Shilling | Tanzania-Shilling | 2302.0 |
| Thailand | Baht | Thailand-Baht | 33.4 |
| Timor | Leste-Dili | Timor-Leste-Dili | 1.0 |
| Togo | CFA Franc | Togo-CFA Franc | 581.84 |
| Tonga | Pa’anga | Tonga-Pa’anga | 2.229 |
| Trinidad & Tobago | Dollar | Trinidad & Tobago-Dollar | 6.759 |
| Tunisia | Dinar | Tunisia-Dinar | 2.876 |
| Turkey | New Lira | Turkey-New Lira | 12.956 |
| Turkmenistan | New Manat | Turkmenistan-New Manat | 3.491 |
| Uganda | Shilling | Uganda-Shilling | 3537.0 |
| Ukraine | Hryvnia | Ukraine-Hryvnia | 27.322 |
| United Arab Emirates | Dirham | United Arab Emirates-Dirham | 3.673 |
| United Kingdom | Pound | United Kingdom-Pound | 0.74 |
| Uruguay | Peso | Uruguay-Peso | 44.45 |
| Uzbekistan | Som | Uzbekistan-Som | 10805.7 |
| Vanuatu | Vatu | Vanuatu-Vatu | 111.22 |
| Venezuela | Bolivar Soberano | Venezuela-Bolivar Soberano | 4.578 |
| Venezuela | Fuerte (OLD) | Venezuela-Fuerte (OLD) | 248832.0 |
| Vietnam | Dong | Vietnam-Dong | 22765.0 |
| Western Samoa | Tala | Western Samoa-Tala | 2.565 |
| Yemen | Rial | Yemen-Rial | 580.0 |
| Zambia | New Kwacha | Zambia-New Kwacha | 16.632 |
| Zimbabwe | RTGS | Zimbabwe-RTGS | 105.949 |
Missed the FBAR Reporting Due Date?
When a person misses the FBAR deadline for reporting, then the FBAR is considered delinquent.
A taxpayer cannot just go back and file a late FBAR. Rather, they are required to submit to one of the Voluntary Disclosure/Tax Amnesty Programs.
Otherwise, it may be considered a quiet disclosure, which may result in significant fines and penalties including tax fraud, willfulness penalties, and an IRS special agent investigation.
Our FBAR Lawyers Represent Clients Worldwide
Our FBAR Lawyer team specializes exclusively in international tax, and specifically IRS offshore disclosure.
Contact our firm today for assistance with getting compliant.
