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Treasury Reporting Rates of Exchange

Treasury Reporting Rates of Exchange

Old Jan 5th 2024, 11:25 am
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Default 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
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Old Jan 5th 2024, 2:26 pm
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Default 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?
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Old Jan 5th 2024, 5:29 pm
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Default Re: Treasury Reporting Rates of Exchange

Originally Posted by EdgeAA
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?
Just divide the GBP amount by the USD rate i.e. £10,500/0.786 = $13,358.78, so $13,359 for the FBAR.
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Old Jan 5th 2024, 6:37 pm
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Default Re: Treasury Reporting Rates of Exchange

Thanks, that sounds much more simple, I knew I was overthinking it!
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Old Jan 5th 2024, 8:26 pm
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Default Re: Treasury Reporting Rates of Exchange

Thanks MidAtlantic
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Old Jan 6th 2024, 7:12 am
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Default Re: Treasury Reporting Rates of Exchange

Thanks to the OP for posting this
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