Tobyjacket

Hi. I was just wondering which exchange rate most people used for converting uk income into dollars. I have in the past used the federal reserve rate or the Treasury YE rate to convert. But I just stumbled across the Average Yearly rate table published on the IRS web site and it seams a lot more favorable than any of the other rates I Have seen. For instance the Avg Rate on the IRS site for 2012 is 1.5244 compared to the Treasury YE Rate of 1.618 and OANDA avg for the year of 1.585, and most of the years pubished in the table show the same trend. That's quite a difference. I understand the IRS avg rate is for converting income received evenly across the year, presumably monthly pension payments fall into that category, there seems to be quite an advantage to using it.

Tobyjacket

lansbury

I have used the average rate on the IRS site since 2007 to get the dollar value of UK pensions.