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Foreign exchange rates

Find monthly and annual foreign exchange rates from the Reserve Bank of Australia updated to June 2023.

Last updated 8 July 2024

Translation (conversion) to Australian dollars

All foreign income, deductions and foreign tax paid must be translated (converted) to Australian dollars before including it in your return. There are rules about which exchange rate to use. Generally, these require amounts to be converted at the exchange rate prevailing at the time of a transaction, or at an average rate.

From 1 January 2020, we have used the exchange rates from the Reserve Bank of Australia. If you need daily foreign exchange rates, refer to Reserve Bank of Australia – Exchange ratesExternal Link. If you use a foreign exchange rate for currency not listed, you may use any reasonable externally sourced exchange rate for that currency.

Our general information on average rates provides more context and practical examples of applying general rates when converting currency.

If you would like further information on foreign exchange (forex) rules, refer to:

Monthly rates

These rates are updated at the beginning of the following month.

Monthly foreign exchange rates for income years:

End of financial year rates

End of financial year rates:

End of calendar year rates

End of calendar year rates:

Rates and conversion rules prior to 1 July 2003

Income or expenses prior to 1 July 2003 will need to be converted using the old conversion rules.

For exchange rates prior to July 2003, see Foreign exchange rates prior to 1 July 2003.