Historical FX Rates

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. For example, if you have a single transaction such as the sale of a business that occurred on a single day, use the exchange rate for that day. However, if you receive income evenly throughout the tax year, you may translate the foreign currency to U.S. dollars using the yearly average currency exchange rate for the tax year.

Yearly average currency exchange rates

The table below includes yearly average exchange rates for prior years. It was revised on January 20, 2014, to reflect the typical cash exchange rates for the listed countries and years. For additional exchange rates, refer to Foreign Currency and Currency Exchange Rates.

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 2016 2015 2014 2013 2012 2011
Afghanistan Afghani 70.645 63.653 59.771 57.822 53.130 48.817
Algeria Dinar 114.431 104.883 84.242 83.339 81.301 76.525
Argentina Peso 15.359 9.617 8.448 5.704 4.738 4.299
Australia Dollar 1.400 1.345 1.154 1.078 1.005 1.008
Bahrain Dinar 0.395 0.395 0.394 0.395 0.395 0.394
Brazil Real 3.632 3.468 2.451 2.249 2.035 1.742
Canada Dollar 1.379 1.329 1.149 1.071 1.040 1.029
Cayman Islands Dollar 0.886 0.885 0.883 0.873 0.872 0.868
China Yuan 6.910 6.489 6.394 6.446 6.573 6.732
Denmark Krone 7.000 6.991 5.844 5.843 6.025 5.571
Egypt Pound 10.462 8.044 7.399 7.185 6.348 6.211
Euro Zone Euro 0.940 0.937 0.784 0.783 0.809 0.748
Hong Kong Dollar 8.073 8.062 8.065 8.067 8.068 8.096
Hungary Forint 293.083 290.638 242.076 232.771 234.421 209.338
Iceland Krona 126.256 137.471 121.574 127.323 130.282 120.906
India Rupee 69.956 66.768 63.469 60.936 55.911 49.124
Iraq Dinar 1236.453 1231.234 1228.786 1225.266 1224.581 1230.715
Israel New Shekel 3.997 4.052 3.723 3.759 4.014 3.724
Japan Yen 113.138 125.911 110.101 101.517 83.008 82.931
Lebanon Pound 1593.639 1588.880 1591.284 1589.155 1583.096 1581.575
Mexico Peso 19.435 16.505 13.840 13.275 13.695 12.943
Morocco Dirham 10.279 10.206 8.828 8.829 9.064 8.478
New Zealand Dollar 1.494 1.492 1.255 1.270 1.285 1.316
Norway Kroner 8.745 8.392 6.558 6.117 6.056 5.835
Qatar Rial 3.791 3.790 3.794 3.796 3.798 3.791
Russia Rouble 69,685 63.659 40.118 33.165 32.407 30.626
Saudi Arabia Riyal 3.903 3.903 3.902 3.901 3.902 3.902
Singapore Dollar 1.437 1.430 1.318 1.302 1.300 1.308
South Africa Rand 15.319 13.281 11.286 10.037 8.553 7.562
South Korean Won 1211.121 1179.128 1098.233 1142.933 1175.380 1153.728
Sweden Krona 8.910 8.775 7.138 6.780 7.048 6.755
Switzerland Franc 1.025 1.001 0.952 0.964 0.976 0.923
Taiwan Dollar 33.586 33.089 31.566 30.945 30.849 30.693
Thailand Baht 36.778 35.679 33.841 32.027 32.456 31.893
Tunisia Dinar 2.237 2.044 1.771 1.695 1.629 1.469
Turkey New Lira 3.146 2.834 2.276 1.982 1.874 1.748
United Arab Emirates Dirham 3.821 3.821 3.821 3.821 3.821 3.821
United Kingdom Pound 0.770 0.681 0.632 0.665 0.656 0.649
Venezuela Bolivar (Fuerte) 9.447 6.562 6.555 6.312 4.473 4.474