Dollar Exchange Rate !!LINK!!

The Treasury Reporting Rates of Exchange dataset provides the U.S. government's authoritative foreign currency exchange rates for federal agencies to consistently report U.S. dollar equivalents. For more information on the calculation of exchange rates used by federal agencies, please see the Treasury Financial Manual, volume 1, part 2, section 3235. This Exchange Rate Converter Tool is designed to make foreign currency exchange data values easier to access for federal agency reporting purposes.

Also known as the mid-market rate, the spot rate or the real exchange rate, the interbank rate is the exchange rate used by banks and large institutions when trading large volumes of foreign currency with one another. It is not made for individuals and smaller businesses, as smaller money transfers tend to attract a higher mark-up, so that the exchange offering the service can make a profit.

Dollar Exchange Rate

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You must express the amounts you report on your U.S. tax return in U.S. dollars. Therefore, you must translate foreign currency into U.S. dollars if you receive income or pay expenses in a foreign currency. In general, use the exchange rate prevailing (i.e., the spot rate) when you receive, pay or accrue the item.

The only exception relates to some qualified business units (QBUs), which are generally allowed to use the currency of a foreign country. If you have a QBU with a functional currency that is not the U.S. dollar, make all income determinations in the QBU's functional currency, and where appropriate, translate such income or loss at the appropriate exchange rate.

Note: The exchange rates referenced on this page do not apply when making payments of U.S. taxes to the IRS. If the IRS receives U.S. tax payments in a foreign currency, the exchange rate used by the IRS to convert the foreign currency into U.S. dollars is based on the date the foreign currency is converted to U.S. dollars by the bank processing the payment, not the date the foreign currency payment is received by the IRS.

For additional exchange rates not listed below, refer to the governmental and external resources listed on the Foreign Currency and Currency Exchange Rates page or any other posted exchange rate (that is used consistently).

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. 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.

The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, pound sterling and the Chinese renminbi). The SDR currency value is calculated daily (except on IMF holidays or whenever the IMF is closed for business) and the valuation basket is reviewed and adjusted every five years.

Press Release: IMF Determines New Currency Amounts for the SDR Valuation Basket

Press Release: IMF Executive Board Concludes Quinquennial SDR Valuation Review and Determines New Currency Weights for SDR Valuation Basket

This report provides exchange rate information under Section 613 of Public Law 87-195 dated September 4, 1961 (22 USC 2363 (b)) which gives the Secretary of the Treasury sole authority to establish the exchange rates for all foreign currencies or credits reported by all agencies of the government.

The primary purpose is to ensure that foreign currency reports prepared by agencies are consistent with regularly published Treasury foreign currency reports regarding amounts stated in foreign currency units and U.S. dollar equivalents.

This quarterly report reflects exchange rates at which the U.S. government can acquire foreign currencies for official expenditures as reported by disbursing officers for each post on the last business day of the month prior to the date of the published report.

If current rates deviate from the published rates by 10% or more, Treasury will issue amendments to this quarterly report. Starting in April 2021, an amendment to a currency exchange rate for the quarter will appear on the report as a separate line with a new effective date. Amendments made at the end of a month can be used for reporting purposes for transactions occurring during the remaining month(s) in the quarter.

Example: A currency amended on April 30th will appear on two lines of the report. One line for the original March 31st published rate and another line for the amended rate effective April 30th which would be valid for reporting purposes for May and June transactions. Amendments will also be issued to reflect the establishment of new foreign currencies.

To ensure all reports are translated at uniform exchange rates, all U.S. government agencies should use these rates, except as noted above, to convert foreign currency balances and reported transactions to U.S. dollar equivalents as of the date of this report and for the ensuing three months.

Higher interest rates are working to ease price pressures in Canada and inflation is coming down, though progress to the 2% target is slow. The Bank projects that inflation will stay around 3% until the middle of 2024, returning to target in 2025.

Download our historical CERI data. These rates were last updated in January 2018, and will not be updated in future. The Canadian-Dollar Effective Exchange Rate index (CERI) was replaced by the Canadian Effective Exchange Rate index (CEER) as of January 2018.

US dollar appreciation is associated with a darkening of the economic outlook for emerging market economies (EMEs). Using data from 21 EMEs, we find that a 1 percentage point (ppt) appreciation shock to the dollar against a broad basket of currencies dampens the growth outlook by over 0.3 ppt and growth-at-risk (the lowest 5% of growth outcomes) by 0.6 ppt. Dollar appreciation adversely affects investment growth-at-risk in particular and even export growth-at-risk, indicating that global financial conditions play a key role. Indeed, the negative impact is significantly larger in countries with high dollar debt or high foreign presence in local currency bond markets.1

The gyrations of the broad US dollar exchange rate over the past few decades have been linked to marked shifts in global economic activity. In particular, dollar strength has been systematically associated with worse economic performance in EMEs (Graph 1). There is a strong negative correlation between the value of the dollar and detrended EME output over time (left-hand panel). A stronger dollar is also associated with a larger frequency of particularly poor growth outcomes (blue distribution for strong dollar states versus overall red distribution, right-hand panel).

Against this background, this article aims to explore the link between the dollar and EME cyclical growth more systematically, abstracting from long-term trends. The literature on "growth-at-risk" (GaR) has established that tighter financial conditions and sustained high credit growth are key drivers of adverse real economy outcomes (eg Adrian et al (2018), Aikman et al (2019)). So far, this literature has not considered the dollar as a risk factor. At the same time, recent studies have found that the broad dollar exchange rate influences economic activity and financial conditions, in particular in EMEs (eg Avdjiev et al (2019a,b), Erik et al (2020), Shousha (2019)). These studies have focused on average outcomes. We bridge the gap between these two strands of the literature by analysing the impact of the dollar on both the average growth outlook and on GaR using data covering 21 EMEs from Q1 1990 to Q4 2019.

We focus on the link between EME cyclical growth and the broad dollar nominal effective exchange rate (as shown in Graph 1), not the bilateral exchange rates of EME currencies against the dollar. This is for two main reasons. First, reflecting the dollar's role as a global risk factor, the effects of the broad dollar exchange rate on EME financial conditions have tended to outweigh those of the bilateral dollar exchange rates (Avdjiev et al (2019a), Shin (2019)). Second, the effects of the bilateral dollar exchange rate on growth are empirically more difficult to disentangle from causal effects in the other direction. Namely, a bilateral exchange rate could reflect perceptions of a country's current and future growth. This reverse causality is less of a concern in the case of the broad dollar index, which measures the value of the dollar against all major trading partners of the United States.

Our results suggest that broad dollar appreciation dampens real GDP growth on average and, in particular, lowers GaR, defined as the lowest 5% of real GDP growth realisations. We find that a stronger dollar has negative effects especially on real investment GaR and also dampens real export GaR. Moreover, we find that the dollar affects EMEs more strongly than small advanced economies (AEs) and that appreciations of other safe haven currencies do not have similar adverse effects on EME growth. These findings are consistent with the notion that the dollar influences global financial conditions, impacting EMEs in particular. This interpretation is supported by further empirical results, suggesting that dollar appreciation has a significantly larger effect on GaR in EMEs with high dollar debt and high foreign investor presence in local currency bond markets.

The remainder of the special feature is organised as follows. The first section reviews from a conceptual perspective the channels through which movements of the dollar can affect GDP growth (henceforth, "channels of dollar transmission"). The second estimates the effect of dollar fluctuations on GDP growth and on GaR in EMEs. The third section explores the nature of the dollar as a risk factor in EMEs, estimating GaR effects at the level of individual GDP components, juxtaposing the dollar impact on EMEs with that on small AEs and comparing its effect on EMEs with that of other safe haven currencies. The fourth section directly tests some of the channels of dollar transmission, assessing the role of foreign ownership, dollar debt and dollar trade invoicing in the transmission of dollar movements to EME GaR. The last section concludes. ff782bc1db