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Foreign income → USD converter

Your US return is filed in dollars. Convert foreign wages, interest, pension or business income to USD with an approximate IRS yearly-average rate — and see why your FBAR figure, which uses the Dec-31 rate, will look different.

1 · Amount in foreign currency

2 · Currency

3 · Tax year

Approximate USD

$10,822.51

Using an approximate 2024 IRS yearly-average rate of 0.924 EUR per 1 USD. Most income items on a US return (wages, interest, pension, business income) use this yearly-average method.

Verify before filing. These rates are rounded approximations — confirm the official IRS yearly-average rate for 2024 on the IRS website.
FBAR is different. FinCEN 114 (FBAR) and Form 8938 generally use the Dec-31 year-end Treasury rate, not the yearly average — so your FBAR figure will not match this number.
You may also use a daily spot rate for a single transaction (e.g. a one-off capital-gain sale) if that is more accurate.

How exchange rates work on a US return

Educational estimate, not tax advice. Exchange rates and the IRS published averages change every year — always use the official figure for the year you are filing.

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