2022 FBAR Conversion Rates | FBAR Tax Lawyer & Attorney

The 2022 FBAR conversion rates are very important for your US international tax compliance. The reason for their importance is their relation to FBAR (FinCEN Form 114) and the IRS Form 8938. The 2022 FBAR and 2022 Form 8938 instructions both require that 2022 FBAR conversion rates be used to report the required highest balances of foreign financial assets on these forms (in the case of Form 8938, the 2022 FBAR conversion rates is the default choice, not an exclusive one). In other words, the 2022 FBAR conversion rates are used to translate foreign-currency highest balances into US dollars for the purposes of FBAR and Form 8938 compliance.

The U.S. Department of Treasury  already published the 2022 FBAR conversion rates online (they are called “Treasury’s Financial Management Service rates” or the “FMS rates”).

Since the 2022 FBAR conversion rates are highly important to US taxpayers, international tax lawyers and international tax accountants, Sherayzen Law Office provides the table below listing the official 2022 FBAR conversion rates (note that the readers still need to refer to the official website for any updates).

Country – Currency	Foreign Currency to $1.00
AFGHANISTAN – AFGHANI	89.11
ALBANIA – LEK	106.5
ALGERIA – DINAR	136.467
ANGOLA – KWANZA	503.65
ANTIGUA – BARBUDA – E. CARIBBEAN DOLLAR	2.7000
ARGENTINA – PESO	183
ARMENIA – DRAM	400
AUSTRALIA – DOLLAR	1.471
AUSTRIA – EURO	0.936
AZERBAIJAN – NEW MANAT	1.7
BAHAMAS – DOLLAR	1.0000
BAHRAIN – DINAR	0.3770
BANGLADESH – TAKA	105
BARBADOS – DOLLAR	2.02
BELARUS – NEW RUBLE	2.518
BELGIUM – EURO	0.936
BELIZE – DOLLAR	2
BENIN – CFA FRANC	614.84
BERMUDA – DOLLAR	1
BOLIVIA – BOLIVIANO	6.86
BOSNIA – MARKA	1.83
BOTSWANA – PULA	12.739
BRAZIL – REAL	5.286
BRUNEI – DOLLAR	1.34
BULGARIA – LEV New	1.83
BURKINA FASO – CFA FRANC	614.84
BURMA – KYAT	2100
BURUNDI – FRANC	2045.3
CAMBODIA – RIEL	4051
CAMEROON – CFA FRANC	613.79
CANADA – DOLLAR	1.354
CAPE VERDE – ESCUDO	103.16
CAYMAN ISLANDS – DOLLAR	0.82
CENTRAL AFRICAN REPUBLIC – CFA FRANC	613.79
CHAD – CFA FRANC	613.79
CHILE – PESO	851.5
CHINA – RENMINBI	6.897
COLOMBIA – PESO	4845.83
COMOROS – FRANC	461.6
CONGO – CFA FRANC	613.79
COSTA RICA – COLON	591.36
COTE D’IVOIRE – CFA FRANC	614.84
CROATIA – KUNA	6.87
CROATIA – EURO	0.936*
CUBA – Chavito	1
CYPRUS – EURO	0.936
CZECH REPUBLIC – KORUNA	22.102
DEM. REP. OF CONGO – FRANC	2012
DENMARK – KRONE	6.959
DJIBOUTI – FRANC	177
DOMINICAN REPUBLIC – PESO	55.72
ECUADOR – DOLARES	1.0000
EGYPT – POUND	24.74**
EGYPT – POUND	29.5**
EL SALVADOR – DOLARES	1.0000
EQUATORIAL GUINEA – CFA FRANC	613.79
ERITREA – NAKFA	15
ESTONIA – EURO	0.936
ETHIOPIA – BIRR	53.339
EURO ZONE – EURO	0.936
FIJI – DOLLAR	2.176
FINLAND – EURO	0.936
FRANCE – EURO	0.936
GABON – CFA FRANC	613.79
GAMBIA – DALASI	61
GEORGIA – LARI	2.665
GERMANY – EURO	0.936
GHANA – CEDI	9.8***
GHANA – CEDI	11.5***
GREECE – EURO	0.936
GRENADA – EAST CARIBBEAN DOLLAR	2.7
GUATEMALA – QUETZAL	7.84
GUINEA – FRANC	8554
GUINEA BISSAU – CFA FRANC	614.84
GUYANA – DOLLAR	215
HAITI – GOURDE	145
HONDURAS – LEMPIRA	24.552
HONG KONG – DOLLAR	7.797
HUNGARY – FORINT	374.63
ICELAND – KRONA	141.61
INDIA – RUPEE	82.599
INDONESIA – RUPIAH	15528.42
IRAN – RIAL	42000
IRAQ – DINAR	1458.53
IRELAND – EURO	0.936
ISRAEL – SHEKEL	3.518
ITALY – EURO	0.936
JAMAICA – DOLLAR	150
JAPAN – YEN	131.83
JORDAN – DINAR	0.708
KAZAKHSTAN – TENGE	462.54
KENYA – SHILLING	123.25
KOREA – WON	1252.61
KOSOVO – EURO	0.936
KUWAIT – DINAR	0.306
KYRGYZSTAN – SOM	85.68
LAOS – KIP	17217
LATVIA – EURO	0.936
LEBANON – POUND	1500
LESOTHO – MALOTI	16.948
LIBERIA – DOLLAR	153.5
LIBYA – DINAR	4.817
LITHUANIA – EURO	0.936
LUXEMBOURG – EURO	0.936
MADAGASCAR – ARIARY	4360
MALAWI – KWACHA	1035.49
MALAYSIA – RINGGIT	4.4
MALDIVES – RUFIYAA	15.42
MALI – CFA FRANC	614.84
MALTA – EURO	0.936
MARSHALL ISLANDS – DOLLAR	1
MAURITANIA – OUGUIYA	37
MAURITIUS – RUPEE	43.85
MEXICO – PESO	19.546
MICRONESIA – DOLLAR	1
MOLDOVA – LEU	19.08
MONGOLIA – TUGRIK	3443.37
MONTENEGRO – EURO	0.936
MOROCCO – DIRHAM	10.48
MOZAMBIQUE – METICAL	63.24
NAMIBIA – DOLLAR	16.948
NEPAL – RUPEE	132.25
NETHERLANDS – EURO	0.936
NETHERLANDS ANTILLES – GUILDER	1.78
NEW ZEALAND – DOLLAR	1.575
NICARAGUA – CORDOBA	36.15
NIGER – CFA FRANC	614.84
NIGERIA – NAIRA	440
NORWAY – KRONE	9.831
OMAN – RIAL	0.385
PAKISTAN – RUPEE	226.4
PANAMA – BALBOA	Not Listed
PANAMA – DOLARES	1
PAPUA NEW GUINEA – KINA	3.431
PARAGUAY – GUARANI	7309.61
PERU – SOL	3.786
PHILIPPINES – PESO	55.606
POLAND – ZLOTY	4.38
PORTUGAL – EURO	0.936
QATAR – RIYAL	3.64
REP. OF N MACEDONIA – DINAR	57.56
REPUBLIC OF PALAU – DOLLAR	1
ROMANIA – NEW LEU	4.627
RUSSIA – RUBLE	71.481
RWANDA – FRANC	1060
SAO TOME & PRINCIPE – NEW DOBRAS	23.062
SAUDI ARABIA – RIYAL	3.75
SENEGAL – CFA FRANC	614.84
SERBIA – DINAR	109.69
SEYCHELLES – RUPEE	12.87
SIERRA LEONE – LEONE	18.8
SINGAPORE – DOLLAR	1.34
SLOVAK REPUBLIC – EURO	0.936
SLOVENIA – EURO	0.936
SOLOMON ISLANDS – DOLLAR	7.949
SOMALI – SHILLING	565
SOUTH AFRICA – RAND	16.948
SOUTH SUDANESE – POUND	669
SPAIN – EURO	0.936
SRI LANKA – RUPEE	363
ST LUCIA – E CARIBBEAN DOLLAR	2.7
SUDAN – SUDANESE POUND	576
SURINAME – GUILDER	31.714
SWAZILAND – LANGENI	16.948
SWEDEN – KRONA	10.386
SWITZERLAND – FRANC	0.923
SYRIA – POUND	2510
TAIWAN – DOLLAR	30.648
TAJIKISTAN – SOMONI	10.16
TANZANIA – SHILLING	2329
THAILAND – BAHT	34.52
TIMOR – LESTE DILI	1
TOGO – CFA FRANC	614.84
TONGA – PA’ANGA	2.261
TRINIDAD & TOBAGO – DOLLAR	6.765
TUNISIA – DINAR	3.094
TURKEY – NEW LIRA	18.711
TURKMENISTAN – NEW MANAT	3.491
UGANDA – SHILLING	3715
UKRAINE – HRYVNIA	36.569
UNITED ARAB EMIRATES – DIRHAM	3.673
UNITED KINGDOM – POUND STERLING	0.83
URUGUAY – PESO	39.95
UZBEKISTAN – SOM	11224.32
VANUATU – VATU	119.9
VENEZUELA – BOLIVAR SOBERANO	17.236****
VENEZUELA – BOLIVAR SOBERANO	19.23****
VENEZUELA – FUERTE (OLD)	248832
VIETNAM – DONG	23610
WESTERN SAMOA – TALA	2.607
YEMEN – RIAL	580
ZAMBIA – NEW KWACHA	18.1
ZIMBABWE – RTGS	654.66

*Note #1: the official exchange rate for Euro on December 31, 2022 was 0.936; however, with respect to Croatia the Department of the Treasury lists 0.925. We believe that this is a mistake. Please, consult the Department of the Treasury for clarification.

**Note #2: the Treasury Department lists two alternative rates for the Egyptian Pound without clarification which rate should be used for FBAR and Form 8938. We believe that the second rate is correct as it more properly reflects the conversion rate at that time. However, if you wish to follow the safest route, you can use 24.74 conversion rate. Please, consult the Department of the Treasury for clarification.

***Note #3: the Treasury Department lists two alternative rates for the Ghanan Cedi without clarification which rate should be used for FBAR and Form 8938. We believe that the second rate is correct as it more properly reflects the conversion rate at that time. However, if you wish to follow the safest route, you can use 9.8 conversion rate. Please, consult the Department of the Treasury for clarification.

****Note #4: the Treasury Department lists two alternative rates for the Venezuelan Bolivar Soberano without clarification which rate should be used for FBAR and Form 8938. We believe that the second rate is correct as it more properly reflects the conversion rate at that time. However, if you wish to follow the safest route, you can use 17.236 conversion rate. Please, consult the Department of the Treasury for clarification.