GLOSSARY · VISA-HOLDER FINANCE
Treasury reporting rate of exchange
The exchange rates the US Treasury's Bureau of the Fiscal Service publishes for converting foreign currency into dollars. The FBAR converts each account's maximum value at the rate for the last day of the calendar year, and Form 8938 uses the same source in most cases. If no Treasury rate exists for a currency, another verifiable rate is used and its source disclosed.
Also called: Treasury exchange rate, FBAR exchange rate, year-end exchange rate for FBAR
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CHAPTER · TWO-COUNTRY MONEY · FOUNDATIONSReporting Your Indian Accounts to the IRSCHAPTER · TWO-COUNTRY MONEY · FOUNDATIONSA Two-Country Money MapRELATED TERMS
SOURCES
- Treasury Reporting Rates of Exchange. U.S. Treasury, Bureau of the Fiscal Service.
- FBAR line item filing instructions. Financial Crimes Enforcement Network.
- Instructions for Form 8938. Internal Revenue Service.