2024 FBAR Conversion Rates | FBAR International Tax Lawyer
The 2024 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 2024 FBAR and 2024 Form 8938 instructions both require that 2024 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 2024 FBAR conversion rates is the default choice, not an exclusive one). In other words, the 2024 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 2024 FBAR conversion rates online (they are called “Treasury’s Financial Management Service rates” or the “FMS rates”).
Since the 2024 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 2024 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 | 70.3500 |
| ALBANIA – LEK | 93.8500 |
| ALGERIA – DINAR | 135.1030 |
| ANGOLA – KWANZA | 912.0000 |
| ANTIGUA – BARBUDA – E. CARIBBEAN DOLLAR | 2.7000 |
| ARGENTINA – PESO | 1052.5000 |
| ARMENIA – DRAM | 390.0000 |
| AUSTRALIA – DOLLAR | 1.6120 |
| AUSTRIA – EURO | 0.9610 |
| AZERBAIJAN – MANAT | 1.7000 |
| BAHAMAS – DOLLAR | 1.0000 |
| BAHRAIN – DINAR | 0.3770 |
| BANGLADESH – TAKA | 119.0000 |
| BARBADOS – DOLLAR | 2.0200 |
| BELARUS – NEW RUBLE | UNAVAILABLE* |
| BELGIUM – EURO | 0.9610 |
| BELIZE – DOLLAR | 2.0000 |
| BENIN – CFA FRANC | 626.0000 |
| BERMUDA – DOLLAR | 1.0000 |
| BOLIVIA – BOLIVIANO | 6.8600 |
| BOSNIA – MARKA | 1.8800 |
| BOTSWANA – PULA | 13.9670 |
| BRAZIL – REAL | 6.1840 |
| BRUNEI – DOLLAR | 1.3630 |
| BULGARIA – LEV NEW | 1.8800 |
| BURKINA FASO – CFA FRANC | 626.0000 |
| BURUNDI – FRANC | 2900.0000 |
| CAMBODIA – RIEL | 4015.0000 |
| CAMEROON – CFA FRANC | 630.5500 |
| CANADA – DOLLAR | 1.4380 |
| CAPE VERDE – ESCUDO | 105.9900 |
| CAYMAN ISLANDS – DOLLAR | 0.8200 |
| CENTRAL AFRICAN REPUBLIC – CFA FRANC | 630.5500 |
| CHAD – CFA FRANC | 630.5500 |
| CHILE – PESO | 992.6000 |
| CHINA – RENMINBI | 7.2990 |
| COLOMBIA – PESO | 4402.4900 |
| COMOROS – FRANC | 473.2900 |
| CONGO – CFA FRANC | 630.5500 |
| COSTA RICA – COLON | 506.0000 |
| COTE D’IVOIRE – CFA FRANC | 626.0000 |
| CROATIA – EURO | 0.9610 |
| CUBA – Chavito | 1.0000 |
| CUBA – PESO | 24.0000 |
| CYPRUS – EURO | 0.9610 |
| CZECH REPUBLIC – KORUNA | 23.5380 |
| DEM. REP. OF CONGO – CONGOLESE FRANC | 2843.0000 |
| DENMARK – KRONE | 7.1700 |
| DJIBOUTI – FRANC | 177.0000 |
| DOMINICAN REPUBLIC – PESO | 60.7100 |
| ECUADOR – DOLARES | 1.0000 |
| EGYPT – POUND | 50.7900 |
| EL SALVADOR – DOLLAR | 1.0000 |
| EQUATORIAL GUINEA – CFA FRANC | 630.5500 |
| ERITREA – NAKFA | 15.0000 |
| ESTONIA – EURO | 0.9610 |
| ESWATINI – LILANGENI | 18.8500 |
| ETHIOPIA – BIRR | 125.3830 |
| EURO ZONE – EURO | 0.9610 |
| FIJI – DOLLAR | 2.2890 |
| FINLAND – EURO | 0.9610 |
| FRANCE – EURO | 0.9610 |
| GABON – CFA FRANC | 630.5500 |
| GAMBIA – DALASI | 70.0000 |
| GEORGIA – LARI | 2.7800 |
| GERMANY – EURO | 0.9610 |
| GHANA – CEDI | 14.6500 |
| GREECE – EURO | 0.9610 |
| GRENADA – EAST CARIBBEAN DOLLAR | 2.7000 |
| GUATEMALA – QUETZAL | 7.7000 |
| GUINEA BISSAU – CFA FRANC | 626.0000 |
| GUINEA – FRANC | 8602.0000 |
| GUYANA – DOLLAR | 215.0000 |
| HAITI – GOURDE | 130.1930 |
| HONDURAS – LEMPIRA | 25.3150 |
| HONG KONG – DOLLAR | 7.7660 |
| HUNGARY – FORINT | 395.3200 |
| ICELAND – KRONA | 138.1900 |
| INDIA – RUPEE | 85.5770 |
| INDONESIA – RUPIAH | 16067.1300 |
| IRAN – RIAL | 42000.0000 |
| IRAQ – DINAR | 1309.0000 |
| IRELAND – EURO | 0.9610 |
| ISRAEL – SHEKEL | 3.6470 |
| ITALY – EURO | 0.9610 |
| JAMAICA – DOLLAR | 159.0000 |
| JAPAN – YEN | 156.8500 |
| JORDAN – DINAR | 0.7080 |
| KAZAKHSTAN – TENGE | 524.6000 |
| KENYA – SHILLING | 128.8500 |
| KOREA – WON | 1473.2700 |
| KOSOVO – EURO | 0.9610 |
| KUWAIT – DINAR | 0.3080 |
| KYRGYZSTAN – SOM | 86.9990 |
| LAOS – KIP | 21744.0000 |
| LATVIA – EURO | 0.9610 |
| LEBANON – POUND | 89500.0000 |
| LESOTHO – MALOTI | 18.8500 |
| LIBERIA – DOLLAR | 183.0000 |
| LIBYA – DINAR | 4.9040 |
| LITHUANIA – EURO | 0.9610 |
| LUXEMBOURG – EURO | 0.9610 |
| MADAGASCAR – ARIARY | 4620.0000 |
| MALAWI – KWACHA | 1751.0000 |
| MALAYSIA – RINGGIT | 4.4680 |
| MALDIVES – RUFIYAA | 15.4200 |
| MALI – CFA FRANC | 626.0000 |
| MALTA – EURO | 0.9610 |
| MARSHALL ISLANDS – DOLLAR | 1.0000 |
| MAURITANIA – OUGUIYA | 39.7140 |
| MAURITIUS – RUPEE | 46.9300 |
| MEXICO – PESO | 20.7040 |
| MICRONESIA – DOLLAR | 1.0000 |
| MOLDOVA – LEU | 18.3000 |
| MONGOLIA – TUGRIK | 3420.0000 |
| MONTENEGRO – EURO | 0.9610 |
| MOROCCO – DIRHAM | 10.1030 |
| MOZAMBIQUE – METICAL | 63.2700 |
| MYANMAR – KYAT | 3596.0000 |
| NAMIBIA – DOLLAR | 18.8500 |
| NEPAL – RUPEE | 136.9800 |
| NETHERLANDS – EURO | 0.9610 |
| NETHERLANDS ANTILLES – GUILDER | 1.7800 |
| NEW ZEALAND – DOLLAR | 1.7810 |
| NICARAGUA – CORDOBA | 36.6000 |
| NIGER – CFA FRANC | 626.0000 |
| NIGERIA – NAIRA | 1540.0000 |
| NORWAY – KRONE | 11.3220 |
| OMAN – RIAL | 0.3850 |
| PAKISTAN – RUPEE | 278.4000 |
| PALAU – DOLLAR | 1.0000 |
| PANAMA – DOLARES | 1.0000 |
| PAPUA NEW GUINEA – KINA | 3.9920 |
| PARAGUAY – GUARANI | 7793.7200 |
| PERU – SOL | 3.7570 |
| PHILIPPINES – PESO | 58.0250 |
| POLAND – ZLOTY | 4.1080 |
| PORTUGAL – EURO | 0.9610 |
| QATAR – RIYAL | 3.6450 |
| REP. OF N MACEDONIA – DENAR | 58.8600 |
| ROMANIA – NEW LEU | 4.7790 |
| RUSSIA – RUBLE | 108.0000 |
| RWANDA – FRANC | 1340.0000 |
| SAO TOME & PRINCIPE – NEW DOBRAS | 23.4790 |
| SAUDI ARABIA – RIYAL | 3.7500 |
| SENEGAL – CFA FRANC | 626.0000 |
| SERBIA – DINAR | 112.3200 |
| SEYCHELLES – RUPEE | 14.3550 |
| SIERRA LEONE – LEONE | 22.5900 |
| SIERRA LEONE – OLD LEONE | 21.4000 |
| SINGAPORE – DOLLAR | 1.3630 |
| SLOVAK REPUBLIC – EURO | 0.9610 |
| SLOVENIA – EURO | 0.9610 |
| SOLOMON ISLANDS – DOLLAR | 8.0650 |
| SOMALI – SHILLING | 568.0000 |
| SOUTH AFRICA – RAND | 18.8500 |
| SOUTH SUDAN – SUDANESE POUND | 3900.0000 |
| SPAIN – EURO | 0.9610 |
| SRI LANKA – RUPEE | 293.0000 |
| ST LUCIA – E CARIBBEAN DOLLAR | 2.7000 |
| SUDAN – SUDANESE POUND | 1987.0000 |
| SURINAME – GUILDER | 35.1920 |
| SWEDEN – KRONA | 11.0060 |
| SWITZERLAND – FRANC | 0.9050 |
| SYRIA – POUND | 12625.0000 |
| TAIWAN – DOLLAR | 32.7090 |
| TAJIKISTAN – SOMONI | 10.8500 |
| TANZANIA – SHILLING | 2400.0000 |
| THAILAND – BAHT | 34.3300 |
| TIMOR – LESTE DILI | 1.0000 |
| TOGO – CFA FRANC | 626.0000 |
| TONGA – PA’ANGA | 2.3560 |
| TRINIDAD & TOBAGO – DOLLAR | 6.7660 |
| TUNISIA – DINAR | 3.1800 |
| TURKEY – NEW LIRA | 35.3650 |
| TURKMENISTAN – NEW MANAT | 3.4910 |
| UGANDA – SHILLING | 3674.0000 |
| UKRAINE – HRYVNIA | 42.0420 |
| UNITED ARAB EMIRATES – DIRHAM | 3.6730 |
| UNITED KINGDOM – POUND STERLING | 0.7970 |
| URUGUAY – PESO | 43.6600 |
| UZBEKISTAN – SOM | 12899.9000 |
| VANUATU – VATU | 116.0000 |
| VENEZUELA – BOLIVAR SOBERANO | 51.8970 |
| VENEZUELA – FUERTE (OLD) | 248832.0000 |
| VIETNAM – DONG | 25480.0000 |
| WESTERN SAMOA – TALA | 2.7400 |
| YEMEN – RIAL | 528.0000 |
| ZAMBIA – NEW KWACHA | 27.7750 |
| ZIMBABWE – GOLD | 25.0250 |
*Note #1: As of the time of this article, the Department of Treasury still has not published the FBAR rate for Belarus. Please, consult the Department of the Treasury for clarification.