Historical FX rates refer to past foreign exchange rates used to convert one currency into another at a specific point in time. These rates are essential for accurately reporting foreign income, calculating capital gains, or converting overseas transactions into US dollars.
The Internal Revenue Service (IRS) does not provide an official exchange rate. However, it accepts any publicly available FX rate, as long as it is applied consistently.
When converting foreign currency, the appropriate exchange rate depends on the specific circumstances of the transaction:
The table below provides yearly average currency exchange rates for previous years. It was last updated on April 2, 2025, to reflect typical cash exchange rates for the listed countries and years. For additional guidance, refer to this page: IRS yearly exchange rate.
To convert:
Country | Currency | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|---|
Afghanistan | Afghani | 70.649 | 82.635 | 90.084 | 83.484 | 76.651 |
Algeria | Dinar | 134.124 | 135.933 | 142.123 | 135.011 | 126.741 |
Argentina | Peso | 915.161 | 296.154 | 130.792 | 95.098 | 70.635 |
Australia | Dollar | 1.516 | 1.506 | 1.442 | 1.332 | 1.452 |
Bahrain | Dinar | 0.377 | 0.377 | 0.377 | 0.377 | 0.377 |
Brazil | Real | 5.392 | 4.994 | 5.165 | 5.395 | 5.151 |
Canada | Dollar | 1.370 | 1.350 | 1.301 | 1.254 | 1.341 |
Cayman Islands | Dollar | 0.833 | 0.833 | 0.833 | 0.833 | 0.833 |
China | Yuan | 7.189 | 7.075 | 6.730 | 6.452 | 6.900 |
Denmark | Krone | 6.896 | 6.890 | 7.077 | 6.290 | 6.538 |
Egypt | Pound | 45.345 | 30.651 | 19.208 | 15.697 | 15.813 |
Euro Zone | Euro | 0.924 | 0.924 | 0.951 | 0.846 | 0.877 |
Hong Kong | Dollar | 7.803 | 7.829 | 7.831 | 7.773 | 7.756 |
Hungary | Forint | 365.603 | 353.020 | 372.775 | 303.292 | 307.766 |
Iceland | Krona | 137.958 | 137.857 | 135.296 | 126.986 | 135.354 |
India | Rupee | 83.677 | 82.572 | 78.598 | 73.936 | 74.102 |
Iraq | Dinar | 1309.744 | 1376.529 | 1459.51 | 1460.133 | 1197.497 |
Israel | New Shekel | 3.701 | 3.687 | 3.361 | 3.232 | 3.438 |
Japan | Yen | 151.353 | 140.511 | 131.454 | 109.817 | 106.725 |
Lebanon | Pound | 78958.611 | 13730.988 | 1515.669 | 1519.228 | 1510.677 |
Mexico | Peso | 18.330 | 17.733 | 20.110 | 20.284 | 21.466 |
Morocco | Dirham | 9.937 | 10.134 | 10.275 | 8.995 | 9.495 |
New Zealand | Dollar | 1.654 | 1.630 | 1.578 | 1.415 | 1.540 |
Norway | Kroner | 10.756 | 10.564 | 9.619 | 8.598 | 9.413 |
Qatar | Rial | 3.643 | 3.643 | 3.644 | 3.644 | 3.641 |
Russia | Ruble | 92.837 | 85.509 | 69.896 | 73.686 | 72.299 |
Saudi Arabia | Riyal | 3.752 | 3.752 | 3.755 | 3.751 | 3.753 |
Singapore | Dollar | 1.336 | 1.343 | 1.379 | 1.344 | 1.379 |
South Africa | Rand | 18.326 | 18.457 | 16.377 | 14.789 | 16.458 |
South Korea | Won | 1364.153 | 1306.686 | 1291.729 | 1144.883 | 1179.199 |
Sweden | Krona | 10.577 | 10.613 | 10.122 | 8.584 | 9.205 |
Switzerland | Franc | 0.881 | 0.899 | 0.955 | 0.914 | 0.939 |
Taiwan | Dollar | 32.117 | 31.160 | 29.813 | 27.932 | 29.461 |
Thailand | Baht | 35.267 | 34.802 | 35.044 | 31.997 | 31.271 |
Tunisia | Dinar | 3.111 | 3.103 | 3.082 | 2.778 | 2.836 |
Turkey | New Lira | 32.867 | 23.824 | 16.572 | 8.904 | 7.025 |
United Arab Emirates | Dirham | 3.673 | 3.673 | 3.673 | 3.673 | 3.673 |
United Kingdom | Pound | 0.783 | 0.804 | 0.811 | 0.727 | 0.779 |
Venezuela | Bolivar (Fuerte) | 3833558362078.0 | 2863377461538.5 | 666470505836.6 | 232298866894.8 | 236266.507 |