We got an extension on our US taxes waiting for a few last pieces of info on my
husband's Australian income last year. All of that has finally arrived. I want to finish our taxes now as soon as possible (especially now that it is time to file his Aussie return). Anyway, while waiting for the other info to arrive, I have been checking out all the foreign income consequences to our taxes here. I have read in a few places about a "yearly average exchange rate" for translating foreign transactions into the US$. While I've seen this mentioned, never do any of the sources say where this is published. Does anyone know where I can find this "yearly average exchange rate"? I have visited the web site for the Federal Reserve but all I found there were daily rates. Any assistance would be greatly appreciated. Thanks, Shaz -----== Over 80,000 Newsgroups - 16 Different Servers! =----- |
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> > > > > > > > > > > > > > > > > > Not sure what time period you need, but the yearly average for year 2000 was .58282 as calculated by www.oanda.com You have to go to the history part and specify the dates and it's list the daily closing values and at the vewwy bottom it will give the average for that time period. When I did it, I got: FXHistory: historical currency exchange rates Conversion Table: AUD to USD (Interbank rate) Time period: 01/1/00 to 12/31/00. Daily averages: 01/01/2000 0.65700000 01/02/2000 0.65650000 01/03/2000 0.65720000 ... (cut the loooong list of daily values) ... 01/04/2000 0.55900000 01/05/2000 0.55990000 Average (366 days): 0.58282 High: 0.66850 Low: 0.50730 |
If there is an IRS office at the US Embassy in Australia, they should be able to provide you with an acceptable exchange rate.
If they can't do this, you can get the official daily exchange rates from here: http://ia.ita.doc.gov/exchange/index.html |
Ignore my last post; here's the info you are looking for:
http://www.usembassy.org.uk/irs/irsxchng.htm |
Thanks!
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