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IRS yearly average exchange rate converter
Convert pounds or euros to US dollars with the IRS yearly average exchange rates for 2021 to 2025, as used on US tax returns for income received through the year.
Enter a positive amount; results are rounded to the nearest cent.
Only GBP and EUR for 2021–2025 are covered. The IRS has not yet published a 2026 yearly average (it appears after the year ends); for 2026 items or other currencies use the US Treasury rates or another consistently applied posted rate.
IRS yearly average rates (units per US$1)
| Year | GBP | EUR |
|---|---|---|
| 2025 | 0.759 | 0.886 |
| 2024 | 0.783 | 0.924 |
| 2023 | 0.804 | 0.924 |
| 2022 | 0.811 | 0.951 |
| 2021 | 0.727 | 0.846 |
2025 IRS yearly average
US$13,175.23
£10,000.00 ÷ 0.759. Source: IRS yearly average currency exchange rates (IRS page updated 17 Sep 2026; checked 9 Nov 2026). Use one consistent method for the whole return.
Yearly averages suit income received evenly through the year, such as salary. For FBAR balances use the Treasury year-end rate; for one-off sales use the rate on the transaction date.
Assumptions and limits
- Rates are the IRS published yearly averages, expressed as units of foreign currency per US dollar (IRS page last updated 17 September 2026).
- The IRS has no official exchange rate and accepts any posted rate used consistently; the yearly average is a common, accepted choice for regular income.
- Use the US Treasury 31 December rate for FBAR and Form 8938 balances, and the spot rate on the date for one-off transactions such as a property sale.
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This is an estimate for orientation, not advice. We confirm the position on your facts before any filing.
Written by the US UK Expat Tax advisory team. Last reviewed 9 November 2026 · Figures relate to the 2025 tax year unless stated.
Primary sources checked
General information, not personal tax advice. Rules and thresholds change; we confirm the position for your facts before any work.
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