Rupee Exchange Rates for the FBAR: Treasury and IRS Rates
Which rate for which form
| Use | Rate to use | Source of the rule |
|---|---|---|
| FBAR (FinCEN Form 114): value of each account | Treasury rate for the last day of the calendar year, for every account. Round up to the next whole dollar. | FinCEN |
| Form 8938: value of foreign financial assets | Treasury (Bureau of the Fiscal Service) rate on the last day of the tax year, or a rate shown on an account statement issued at least annually. | IRS |
| Income and expenses on your return (interest, rent, wages) | The rate when you receive, pay or accrue the item. An average rate, such as the IRS yearly average, may be used if applied consistently. | IRS |
| Taxes paid to India (foreign tax credit) | Generally the rate on the date paid, or an average rate for accrued taxes. Check the Form 1116 instructions. | IRS |
| Payments you make to the IRS in rupees | The IRS converts using the date the bank processes the conversion. These rates do not apply. | IRS |
Treasury year-end rates for the FBAR
These are the rates for December 31 each year, published in the Treasury Reporting Rates of Exchange. Divide rupees by the rate to get dollars.
| Year reported | Rate date | Rupees per dollar | Used for |
|---|---|---|---|
| 2025 | Dec 31, 2025 | 89.854 | FBAR for 2025 (due April 15, 2026) |
| 2024 | Dec 31, 2024 | 85.577 | FBAR for 2024 (due April 15, 2025) |
| 2023 | Dec 31, 2023 | 83.162 | FBAR for 2023 (due April 15, 2024) |
| 2022 | Dec 31, 2022 | 82.599 | FBAR for 2022 (due April 15, 2023) |
| 2021 | Dec 31, 2021 | 74.343 | FBAR for 2021 (due April 15, 2022) |
| 2020 | Dec 31, 2020 | 73.034 | FBAR for 2020 (due April 15, 2021) |
| 2019 | Dec 31, 2019 | 71.0 | FBAR for 2019 (due April 15, 2020) |
| 2018 | Dec 31, 2018 | 69.8 | FBAR for 2018 (due April 15, 2019) |
| 2017 | Dec 31, 2017 | 63.75 | FBAR for 2017 (due April 15, 2018) |
| 2016 | Dec 31, 2016 | 67.8 | FBAR for 2016 (due April 15, 2017) |
Latest quarterly Treasury rates
| Rate date | Rupees per dollar |
|---|---|
| Sep 30, 2026 | 95.83 |
| Jun 30, 2026 | 94.66 |
| Mar 31, 2026 | 93.924 |
| Dec 31, 2025 | 89.854 |
These are for reference. Only the December 31 rate is used for the FBAR.
IRS yearly average rates for the rupee
| Year | Rupees per dollar (average) |
|---|---|
| 2025 | 87.133 |
| 2024 | 83.677 |
| 2023 | 82.572 |
| 2022 | 78.598 |
| 2021 | 73.936 |
Rupee to dollar converter for the FBAR
Enter the highest balance of each Indian account in the year, one per line. The tool divides by the Treasury rate for the year you choose and rounds each amount up to the next whole dollar, as FinCEN instructs. Nothing you type is sent anywhere; the calculation runs in your browser.
Worked example
At the 2025 year-end rate of 89.854 rupees per dollar, divide the rupee amount by 89.854 and round up.
| Highest balance | Dollars, exact | Reported (rounded up) |
|---|---|---|
| ₹5,00,000 | $5,564.58 | $5,565 |
| ₹10,00,000 | $11,129.17 | $11,130 |
| ₹50,00,000 | $55,645.83 | $55,646 |
The FBAR threshold of $10,000 is about ₹8,98,540 at this rate. The test applies to the combined maximum values of all your foreign accounts.
Common questions
- Which exchange rate do I use for the FBAR?
- What if my highest balance happened in March?
- How do I handle lakhs and crores?
- Can I use the IRS yearly average rate for my FBAR?
- Can I use the RBI reference rate for the FBAR?
Rates are copied from the sources named above on the date shown and may be revised. Check the Treasury and IRS pages before you file. FBARIndia is not affiliated with the IRS, FinCEN, the U.S. Treasury or the Government of India. General information, not legal or tax advice.