Treasury Reporting Rates of Exchange
 

The December 31, 2023 rate, which is required for FBAR calculations, is now available. GBP/USD rate is 0.786.

It can be found on Page 16 here: https://fiscaldata.treasury.gov/data...es-of-exchange

Re: Treasury Reporting Rates of Exchange
 

Thanks for that. Just to confirm my math is correct on this, for getting the UK to USD rate it's 1/0.786 so a 1.272 GBP to USD exchange rate?

As an example, UK account with 10,500 GBP would be $13,356 for the FBAR report?

Re: Treasury Reporting Rates of Exchange
 

Just divide the GBP amount by the USD rate i.e. £10,500/0.786 = $13,358.78, so $13,359 for the FBAR.

Re: Treasury Reporting Rates of Exchange
 

Thanks, that sounds much more simple, I knew I was overthinking it!

Re: Treasury Reporting Rates of Exchange
 

Thanks MidAtlantic

Re: Treasury Reporting Rates of Exchange
 

Thanks to the OP for posting this :)