Free tool
IRS yearly average exchange rates.
The IRS publishes yearly average exchange rates you can use to convert foreign-currency amounts to U.S. dollars — this page has the full 2021–2025 table plus a calculator that does the division or multiplication for you.
Filing Form 5472 for a foreign-owned U.S. LLC means every reportable transaction amount has to be in U.S. dollars, with a schedule showing the exchange rate you used. Convert your amounts below, then let us prepare the filing.
Full table
IRS yearly average exchange rate table (2021–2025)
Rates are units of foreign currency per 1 U.S. dollar, as published by the IRS (two typos corrected, see below). Source: irs.gov yearly average currency exchange rates. The IRS page itself is marked “Page Last Reviewed or Updated: 17-Sep-2026”.
| Country | Currency | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Afghanistan | Afghani | 69.637 | 70.649 | 82.635 | 90.084 | 83.484 |
| Algeria | Dinar | 131.627 | 134.124 | 135.933 | 142.123 | 135.011 |
| Argentina | Peso | 1243.369 | 915.161 | 296.154 | 130.792 | 95.098 |
| Australia | Dollar | 1.551 | 1.516 | 1.506 | 1.442 | 1.332 |
| Bahrain | Dinar | 0.377 | 0.377 | 0.377 | 0.377 | 0.377 |
| Brazil | Real | 5.593 | 5.392 | 4.994 | 5.165 | 5.395 |
| Canada | Dollar | 1.398 | 1.37 | 1.35 | 1.301 | 1.254 |
| Cayman Islands | Dollar | 0.821 | 0.833 | 0.833 | 0.833 | 0.833 |
| China | Yuan | 7.129 | 7.189 | 7.075 | 6.73 | 6.452 |
| Denmark | Krone | 6.617 | 6.896 | 6.89 | 7.077 | 6.29 |
| Egypt | Pound | 49.233 | 45.345 | 30.651 | 19.208 | 15.697 |
| Euro Zone | Euro | 0.886 | 0.924* | 0.924 | 0.951 | 0.846 |
| Hong Kong | Dollar | 7.796 | 7.803 | 7.829 | 7.831 | 7.773 |
| Hungary | Forint | 352.869 | 365.603 | 353.02 | 372.775 | 303.292 |
| Iceland | Krona | 128.262 | 137.958 | 137.857 | 135.296 | 126.986 |
| India | Rupee | 87.133 | 83.677 | 82.572 | 78.598 | 73.936 |
| Iraq | Dinar | 1309.753 | 1309.744 | 1376.529 | 1459.51 | 1460.133 |
| Israel | New Shekel | 3.451 | 3.701 | 3.687 | 3.361 | 3.232 |
| Japan | Yen | 149.632 | 151.353 | 140.511 | 131.454 | 109.817 |
| Lebanon | Pound | 89568.54 | 78958.611 | 13730.988 | 1515.669 | 1519.228 |
| Mexico | Peso | 19.212 | 18.33 | 17.733 | 20.11 | 20.284 |
| Morocco | Dirham | 9.344 | 9.937 | 10.134 | 10.275 | 8.995 |
| New Zealand | Dollar | 1.719 | 1.654 | 1.63 | 1.578 | 1.415 |
| Norway | Kroner | 10.392 | 10.756 | 10.564 | 9.619 | 8.598 |
| Qatar | Rial | 3.643 | 3.643 | 3.643 | 3.644 | 3.644 |
| Russia | Ruble | 83.755 | 92.837 | 85.509 | 69.896 | 73.686* |
| Saudi Arabia | Riyal | 3.751 | 3.752 | 3.752 | 3.755 | 3.751 |
| Singapore | Dollar | 1.307 | 1.336 | 1.343 | 1.379 | 1.344 |
| South Africa | Rand | 17.884 | 18.326 | 18.457 | 16.377 | 14.789 |
| South Korean | Won | 1421.779 | 1364.153 | 1306.686 | 1291.729 | 1144.883 |
| Sweden | Krona | 9.813 | 10.577 | 10.613 | 10.122 | 8.584 |
| Switzerland | Franc | 0.831 | 0.881 | 0.899 | 0.955 | 0.914 |
| Taiwan | Dollar | 31.167 | 32.117 | 31.16 | 29.813 | 27.932 |
| Thailand | Baht | 32.87 | 35.267 | 34.802 | 35.044 | 31.997 |
| Tunisia | Dinar | 2.996 | 3.111 | 3.103 | 3.082 | 2.778 |
| Turkey | New Lira | 39.546 | 32.867 | 23.824 | 16.572 | 8.904 |
| United Arab Emirates | Dirham | 3.673 | 3.673 | 3.673 | 3.673 | 3.673 |
| United Kingdom | Pound | 0.759 | 0.783 | 0.804 | 0.811 | 0.727 |
| Venezuela | Bolivar (Fuerte) | 13057596875331350 | 3833558362078 | 2863377461538.5 | 666470505836.6 | 232298866894.8 |
* The IRS page publishes this cell with a typo: Euro Zone 2024 as “0,924”; Russia 2021 as “.73.686”. We show the corrected value above and use it in the converter.
How we calculate this
How does the converter work?
The IRS publishes each year’s rate as units of foreign currency per 1 U.S. dollar. To convert foreign currency to U.S. dollars, we divide the foreign-currency amount by that year’s rate. To convert U.S. dollars to foreign currency, we multiply the U.S. dollar amount by that year’s rate — the same two rules the IRS states on its own rates page.
The IRS says directly: “To convert from foreign currency to U.S. dollars, divide the foreign currency amount by the applicable yearly average exchange rate in the table below,” and “To convert from U.S. dollars to foreign currency, multiply the U.S. dollar amount by the applicable yearly average exchange rate in the table below.” Source: IRS yearly average currency exchange rates.
The IRS also says it “has no official exchange rate” and “generally accepts any posted exchange rate that is used consistently,” and points to its foreign currency and currency exchange rates page for additional rates and resources not listed in this table.
The IRS adds each newly completed tax year’s rates to this table after the year ends and keeps a rolling multi-year window, so we revisit this table when the IRS updates it.
Last reviewed 29 September 2026. Rates captured directly from the irs.gov table.
Using these rates on Form 5472
What do the Form 5472 instructions say about currency?
The Instructions for Form 5472, under Part IV — Monetary Transactions Between Reporting Corporations and Foreign Related Party — state: “State all amounts in U.S. dollars and attach a schedule showing the exchange rates used.” A similar rule appears for Part VIII (Cost Sharing Arrangements): “All amounts should be reported in U.S. dollars.” Source: Instructions for Form 5472.
The instructions don’t name one required rate for Form 5472 — they require the U.S.-dollar amount and a schedule of whatever rate you used. The IRS yearly average rate above is a commonly used, consistently posted rate you can use for that schedule.
We prepare the Form 5472 and pro forma Form 1120 package, including the exchange-rate schedule, as part of every filing.
Common exchange-rate questions
What is the IRS yearly average exchange rate?+
It's a table the IRS publishes showing, for each listed country, the average units of that country's currency per 1 U.S. dollar over a full tax year — a convenience rate for converting foreign-currency amounts to U.S. dollars on a return.
How do I convert foreign currency to USD using this table?+
Divide the foreign-currency amount by that year's rate for the currency. For example, at a rate of 0.811 GBP per USD, £811 ÷ 0.811 = $1,000.00.
How do I convert USD to a foreign currency?+
Multiply the U.S. dollar amount by that year's rate. At 0.811 GBP per USD, $1,000 × 0.811 = £811.00.
Does the IRS require me to use this exact rate?+
No. The IRS says it has no official exchange rate and generally accepts any posted rate used consistently. The yearly average table is a commonly used, consistently posted option — not a mandatory one.
Do I have to use this rate on Form 5472?+
Form 5472 instructions require amounts in U.S. dollars with a schedule showing the exchange rate(s) used, but they don't name one required rate. The IRS yearly average is a commonly used option for that schedule.
How often does the IRS update this table?+
The IRS adds a newly completed year to the same page after that year ends and keeps a rolling multi-year window. We revisit the table whenever the IRS updates it.