Official Treasury Currency Conversion Rates of December 31, 2011 - Sherayzen Law Office

24 March 2012, Comments: 0

The U.S. Department of Treasure recently published its official currency conversion rates for December 31, 2011 (they are called “Treasury’s Financial Management Service rates”). These rates are important for many reasons, but one reason especially stands out for persons who are required to file the FBARs.

The latest (January 2012) FBAR instructions require the use of Treasury’s Financial Management Service rates, if available, to determine the maximum value of a foreign bank account. In particular, the FBAR instructions state:

In the case of non-United States currency, convert the maximum account value for each account into United States dollars. Convert foreign currency by using the Treasury’s Financial Management Service rate (this rate may be found at www.fms.treas.gov) from the last day of the calendar year. If no Treasury Financial Management Service rate is available, use another verifiable exchange rate and provide the source of that rate. In valuing currency of a country that uses multiple exchange rates, use the rate that would apply if the currency in the account were converted into United States dollars on the last day of the calendar year.

For this reason, the international tax attorneys take their time to compile these rates with all updates. For your convenience, Sherayzen Law Office provides a table of the official Treasury currency conversion rates below (keep in mind, you still need to refer to the official website for any updates).

Country Currency Foreign Currency to $1.00
Afghanistan Afghani 48.2000
Albania Lek 105.3700
Algeria Dinar 75.0360
Angola Kwanza 95.0000
Antigua-Barbuda East Caribbean Dollar 2.7000
Argentina Peso 4.2880
Armenia Dram 380.0000
Australia Dollar 0.9840
Austria Euro 0.7650
Azerbaijan Manat 0.8000
Bahamas Dollar 1.0000
Bahrain Dinar 0.3770
Bangladesh Taka 79.0000
Barbados Dollar 2.0200
Belarus Ruble 8300.0000
Belgium Euro 0.7650
Belize Dollar 2.0000
Benin CFA Franc 501.7300
Bermuda Dollar 1.0000
Bolivia Boliviano 6.8600
Bosnia-Hercegovina Marka 1.4960
Botwana Pula 7.4850
Brazil Real 1.8500
Brunei Dollar 1.2920
Bulgaria Lev 1.4960
Burkina Faso CFA Franc 501.7300
Burma Kyat 450.0000
Burundi Franc 1300.0000
Cambodia (Khmer) Riel 4103.0000
Cameroon CFA Franc 501.7300
Canada Dollar 1.0180
Cape Verde Escudo 85.5520
Cayman Islands Dollar 0.8200
Central African Republic CFA Franc 501.7300
Chad CFA Franc 501.7300
Chile Peso 519.4500
China Renminbi 6.3360
Colombia Peso 1923.5000
Comoros Franc 361.3500
Congo CFA Franc [refer to FMS website]
Costa Rica Colon 501.2000
Cote D’Ivoire CFA Franc 501.7300
Croatia Kuna 5.6500
Cuba Peso 1.0000
Cyprus Euro 0.7650
Czech Republic Koruna 19.2610
Democratic Republic of Congo Congolese Franc 900.0000
Denmark Krone 5.6860
Djibouti Franc 177.0000
Dominican Republic Peso 38.3700
East Timor Dili 1.0000
Ecuador Dolares 1.0000
Egypt Pound 6.0160
El Salvador Dolares 1.0000
Equatorial Guinea CFA Franc 501.7300
Eritrea Nakfa 15.0000
Estonia Kroon 11.6970
Ethiopia Birr 17.2100
Euro Zone EURO 0.7650
Fiji Dollar 1.7850
Finland Euro 0.7650
France Euro 0.7650
Gabon CFA Franc 501.7300
Gambia Dalasi 30.0000
Georgia Lari 1.6600
Germany FRG Euro 0.7650
Ghana Cedi 1.6370
Greece Euro 0.7650
Grenada East Carribean Dollar 2.7000
Guatemala Quentzel 7.8240
Guinea Franc 7118.0000
Guinea Bissau CFA Franc 501.7300
Guyana Dollar 202.0000
Haiti Gourde 38.5000
Honduras Lempira 18.9580
Hong Kong Dollar 7.7760
Hungary Forint 234.3600
Iceland Krona 122.2700
India Rupee 52.2500
Indonesia Rupiah 9060.0000
Iran Rial 8229.0000
Iraq Dinar 1170.0000
Ireland Euro 0.7650
Israel Shekel 3.7730
Italy Euro 0.7650
Jamaica Dollar 86.1000
Japan Yen 78.0000
Jordan Dinar 0.7080
Kazakhstan Tenge 148.0000
Kenya Shilling 83.5500
Korea Won 1150.1500
Kuwait Dinar 0.2780
Kyrgyzstan Som 46.5000
Laos Kip 8001.0000
Latvia Lats 0.5320
Lebanon Pound 1500.0000
Lesotho South African Rand 8.1420
Liberia Dollar 49.0000
Libya Dinar 1.1420
Lithuania Litas 2.6410
Luxembourg Euro 0.7650
Macao Mop 8.0000
Macedonia FYROM Denar 46.4000
Madagascar Aria 2162.1400
Malawi Kwacha 168.0000
Malaysia Ringgit 3.1550
Mali CFA Franc 501.7300
Malta Euro 0.7650
Marshall Islands Dollar 1.0000
Martinique Euro 0.7650
Mauritania Ouguiya 290.0000
Mauritius Rupee 29.2000
Mexico New Peso 13.7850
Micronesia Dollar 1.0000
Moldova Leu 11.6820
Mongolia Tugrik 1377.5000
Montenegro Euro 0.7650
Morocco Dirham 8.4840
Mozambique Metical 29.9500
Namibia Dollar 8.1420
Nepal Rupee 84.0500
Netherlands Euro 0.7650
Netherlands Antilles Guilder 1.7800
New Zealand Dollar 1.2910
Nicaragua Cordoba 22.9800
Niger CFA Franc 501.7300
Nigeria Naira 163.6500
Norway Krone 5.9370
Oman Rial 0.3850
Pakistan Rupee 89.1600
Palau Dollar 1.0000
Panama Balboa 1.0000
Papua New Guinea Kina 2.0620
Paraguay Guarani 4360.0000
Peru Inti 0.0000
Peru Nuevo Sol 2.6900
Philippines Peso 43.4700
Poland Zloty 3.3880
Portugal Euro 0.7650
Qatar Riyal 3.6400
Romania Leu 3.2800
Russia Ruble 31.1710
Rwanda Franc 601.1500
Sao Tome & Principe Dobras 18790.5880
Saudi Arabia Riyal 3.7500
Senegal CFA Franc 501.7300
Serbia Dinar 78.8500
Seychelles Rupee 13.3560
Sierra Leone Leone 4381.0000
Singapore Dollar 1.2900
Slovak Euro 0.7650
Slovenia Euro 0.7650
Solomon Islands Dollar 6.8970
South Africa Rand 8.1420
Spain Euro 0.7650
Sri Lanka Rupee 113.8500
St Lucia East Carribean Dollar 2.7000
Sudan Pound 2.9000
Suriname Guilder 3.3500
Swaziland Lilangeni 8.1420
Sweden Krona 6.8490
Switzerland Franc 0.9350
Syria Pound 55.0000
Taiwan Dollar 30.2730
Tajikistan Somoni 4.7580
Tanzania Shilling 1585.0000
Thailand Baht 31.2900
Togo CFA Franc 501.7300
Tonga Pa’anga 1.6170
Trinidad & Tobago Dollar 6.3700
Tunisia Dinar 1.4850
Turkey Lira 1.8840
Turkmenistan Manat 2.8430
Uganda Shilling 2465.0000
Ukraine Hryvnia 8.0220
United Arab Emirates Dirham 3.6730
United Kingdom Pound Sterling 0.6370
Uruguay New Peso 19.8000
Uzbekistan Som 1802.0000
Vanuatu Vatu 92.1000
Venezuela New Bolivar 4.3000
Vietnam Dong 21000.0000
Western Samoa Tala 2.2440
Yemen Rial 218.0000
Yugoslavia Dinar [please refer to FMS site]
Zambia Kwacha 5120.0000
Zimbabwe Dollar 1.0000

1. Lesotho’s loti is pegged to South African Rand 1:1 basis
2. Macao is also spelled Macau: currency is Macanese pataka
3. Macedonia: due to the conflict over name with Greece, the official name if FYROM – former Yugoslav Republic of Macedonia.
4. Please, refer to the Treasury’s website for amendments regarding any reportable transactions in January, February, and March of 2012.


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