Official Treasury Currency Conversion Rates of December 31, 2012
Every year, the U.S. Department of Treasure publishes its official currency conversion rates (they are called “Treasury’s Financial Management Service rates” or the “FMS rates”). Recently, the Treasury Department published the FMS rates for December 31, 2012. While there are other good reasons for the existence of these rates, the FMS rates for December 31 are especially important 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 | 51.8000 |
| Albania | Lek | 105.6500 |
| Algeria | Dinar | 77.8130 |
| Angola | Kwanza | 95.0000 |
| Antigua-Barbuda | East Caribbean Dollar | 2.7000 |
| Argentina | Peso | 4.9100 |
| Armenia | Dram | 406.0000 |
| Australia | Dollar | 0.9640 |
| Austria | Euro | 0.7590 |
| Azerbaijan | Manat | 0.8000 |
| Bahamas | Dollar | 1.0000 |
| Bahrain | Dinar | 0.3770 |
| Bangladesh | Taka | 81.0000 |
| Barbados | Dollar | 2.0200 |
| Belarus | Ruble | 8550.0000 |
| Belgium | Euro | 0.7590 |
| Belize | Dollar | 2.0000 |
| Benin | CFA Franc | 496.0000 |
| Bermuda | Dollar | 1.0000 |
| Bolivia | Boliviano | 6.9600 |
| Bosnia-Hercegovina | Marka | 1.4840 |
| Botwana | Pula | 7.7700 |
| Brazil | Real | 2.0470 |
| Brunei | Dollar | 1.2220 |
| Bulgaria | Lev | 1.4840 |
| Burkina Faso | CFA Franc | 496.0000 |
| Burma | Kyat | 852.0000 |
| Burundi | Franc | 1535.0000 |
| Cambodia (Khmer) | Riel | 4103.0000 |
| Cameroon | CFA Franc | 496.0000 |
| Canada | Dollar | 0.9950 |
| Cape Verde | Escudo | 82.6850 |
| Cayman Islands | Dollar | 0.8200 |
| Central African Republic | CFA Franc | 496.0000 |
| Chad | CFA Franc | 496.0000 |
| Chile | Peso | 478.3500 |
| China | Renminbi | 6.2300 |
| Colombia | Peso | 1766.4000 |
| Comoros | Franc | 361.3500 |
| Congo | CFA Franc | 496.0000 |
| Congo, Dem. Rep | Congolese Franc | 920.0000 |
| Costa Rica | Colon | 509.7000 |
| Cote D’Ivoire | CFA Franc | 496.0000 |
| Croatia | Kuna | 5.6300 |
| Cuba | Peso | 1.0000 |
| Cyprus | Euro | 0.7590 |
| Czech Republic | Koruna | 18.6300 |
| Denmark | Krone | 5.6600 |
| Djibouti | Franc | 177.0000 |
| Dominican Republic | Peso | 40.1000 |
| Ecuador | Dolares | 1.0000 |
| Egypt | Pound | 6.3560 |
| El Salvador | Dolares | 1.0000 |
| Equatorial Guinea | CFA Franc | 496.0000 |
| Eritrea | Nakfa | 15.0000 |
| Estonia | Euro | 0.7590 |
| Ethiopia | Birr | 18.1800 |
| Euro Zone | Euro | 0.7590 |
| Fiji | Dollar | 1.7590 |
| Finland | Euro | 0.7590 |
| France | Euro | 0.7590 |
| Gabon | CFA Franc | 496.0000 |
| Gambia | Dalasi | 34.0000 |
| Georgia | Lari | 1.6600 |
| Germany FRG | Euro | 0.7590 |
| Ghana | Cedi | 1.9050 |
| Greece | Euro | 0.7590 |
| Grenada | East Carribean Dollar | 2.7000 |
| Guatemala | Quentzel | 7.9020 |
| Guinea | Franc | 6970.0000 |
| Guinea Bissau | CFA Franc | 496.0000 |
| Guyana | Dollar | 202.0000 |
| Haiti | Gourde | 42.1500 |
| Honduras | Lempira | 19.9100 |
| Hong Kong | Dollar | 7.7500 |
| Hungary | Forint | 221.9600 |
| Iceland | Krona | 128.0100 |
| India | Rupee | 54.4500 |
| Indonesia | Rupiah | 9700.0000 |
| Iran | Rial | 8229.0000 |
| Iraq | Dinar | 1166.0000 |
| Ireland | Euro | 0.7590 |
| Israel | Shekel | 3.7320 |
| Italy | Euro | 0.7590 |
| Jamaica | Dollar | 92.0000 |
| Japan | Yen | 86.1600 |
| Jerusalem | Shekel | 3.7320 |
| Jordan | Dinar | 0.7080 |
| Kazakhstan | Tenge | 150.7000 |
| Kenya | Shilling | 86.1000 |
| Korea | Won | 1063.2400 |
| Kuwait | Dinar | 0.2810 |
| Kyrgyzstan | Som | 47.1000 |
| Laos | Kip | 7966.0000 |
| Latvia | Lats | 0.5290 |
| Lebanon | Pound | 1500.0000 |
| Lesotho | South African Rand | 8.4850 |
| Liberia | Dollar | 49.0000 |
| Libya | Dinar | 1.2840 |
| Lithuania | Litas | 2.6180 |
| Luxembourg | Euro | 0.7590 |
| Macao | Mop | 8.0000 |
| Macedonia FYROM | Denar | 45.4000 |
| Madagascar | Aria | 2267.8200 |
| Malawi | Kwacha | 344.0000 |
| Malaysia | Ringgit | 3.0570 |
| Mali | CFA Franc | 496.0000 |
| Malta | Euro | 0.7590 |
| Marshall Islands | Dollar | 1.0000 |
| Martinique | Euro | 0.7590 |
| Mauritania | Ouguiya | 300.0000 |
| Mauritius | Rupee | 30.4500 |
| Mexico | New Peso | 13.0400 |
| Micronesia | Dollar | 1.0000 |
| Moldova | Leu | 12.0630 |
| Mongolia | Tugrik | 1394.3100 |
| Montenegro | Euro | 0.7590 |
| Morocco | Dirham | 8.4340 |
| Mozambique | Metical | 29.6000 |
| Namibia | Dollar | 8.4850 |
| Nepal | Rupee | 87.3000 |
| Netherlands | Euro | 0.7590 |
| Netherlands Antilles | Guilder | 1.7800 |
| New Zealand | Dollar | 1.2160 |
| Nicaragua | Cordoba | 24.1000 |
| Niger | CFA Franc | 496.0000 |
| Nigeria | Naira | 156.1000 |
| Norway | Krone | 5.5840 |
| Oman | Rial | 0.3850 |
| Pakistan | Rupee | 97.1800 |
| Palau | Dollar | 1.0000 |
| Panama | Balboa | 1.0000 |
| Papua New Guinea | Kina | 1.9440 |
| Paraguay | Guarani | 4245.0000 |
| Peru | Nuevo Sol | 2.5500 |
| Philippines | Peso | 41.0400 |
| Poland | Zloty | 3.1040 |
| Portugal | Euro | 0.7590 |
| Qatar | Riyal | 3.6400 |
| Romania | Leu | 3.3660 |
| Russia | Ruble | 30.5230 |
| Rwanda | Franc | 630.0300 |
| Sao Tome & Principe | Dobras | 18469.0610 |
| Saudi Arabia | Riyal | 3.7500 |
| Senegal | CFA Franc | 496.0000 |
| Serbia | Dinar | 86.1800 |
| Seychelles | Rupee | 12.9580 |
| Sierra Leone | Leone | 4317.0000 |
| Singapore | Dollar | 1.2220 |
| Slovak | Euro | 0.7590 |
| Slovenia | Euro | 0.7590 |
| Solomon Islands | Dollar | 7.3210 |
| South Africa | Rand | 8.4850 |
| Spain | Euro | 0.7590 |
| Sri Lanka | Rupee | 127.5000 |
| St Lucia | East Carribean Dollar | 2.7000 |
| Sudan | Pound | 5.9000 |
| Suriname | Guilder | 3.3500 |
| Swaziland | Lilangeni | 8.4850 |
| Sweden | Krona | 6.5120 |
| Switzerland | Franc | 0.9160 |
| Syria | Pound | 63.0000 |
| Taiwan | Dollar | 29.0440 |
| Tajikistan | Somoni | 4.7600 |
| Tanzania | Shilling | 1580.0000 |
| Thailand | Baht | 30.5800 |
| Timor-Leste | Dili | 1.0000 |
| Togo | CFA Franc | 496.0000 |
| Tonga | Pa’anga | 1.6570 |
| Trinidad & Tobago | Dollar | 6.3500 |
| Tunisia | Dinar | 1.5500 |
| Turkey | Lira | 1.7860 |
| Turkmenistan | Manat | 2.8430 |
| Uganda | Shilling | 2686.0000 |
| Ukraine | Hryvnia | 8.0400 |
| United Arab Emirates | Dirham | 3.6730 |
| United Kingdom | Pound Sterling | 0.6180 |
| Uruguay | New Peso | 19.0500 |
| Uzbekistan | Som | 2014.0000 |
| Vanuatu | Vatu | 90.1000 |
| Venezuela | New Bolivar | 4.3000 |
| Vietnam | Dong | 21000.0000 |
| Western Samoa | Tala | 2.2050 |
| Yemen | Rial | 214.5000 |
| Zambia | Kwacha | 5185.0000 |
| 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 2013.