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Revenue’s Exchange Rates For 2021 Tax Returns

March 7, 2022 Tommy McGibney Ireland Comments Off on Revenue’s Exchange Rates For 2021 Tax Returns

The Revenue Commissioners have now published the official 2021 average foreign currency exchange rates which should be used to convert foreign currency amounts in 2021 tax returns.

You should use these rates when converting to Euro, any income (e.g. from trading, rental, employment, investment or other sources) or other sums denominated in Sterling, Dollars or other international currencies.

The rates are based on average Central Bank exchange rates throughout 2021. These, and the corresponding rates for earlier years, are as follows:

Currency / Year2018201920202021
Australian dollar 1.5797 1.6109 1.6549 1.5749
Brazilian real  4.3085 4.4134 5.8943 6.3779
British pound  0.884710.87777 0.8897 0.8596
Canadian dollar 1.5294 1.4855 1.53 1.4826
Chinese yuan 7.8081 7.7355 7.8747 7.6282
Danish krone 7.45327.4661 7.4542 7.437
Indian rupee 80.7332 78.8361 84.6392 87.4392
Japanese yen 130.40 122.01 121.85 129.88
Norwegian krone 9.5975 9.8511 10.7228 10.1633
Russian ruble 74.0416 72.4553 82.7248 87.1527
Swedish krona 10.2583 10.5891 10.4848 10.1465
Swiss franc 1.15501.1124 1.0705 1.0811
US dollar1.18101.1195 1.14221.1827

Lloyds Accounts

A special rate applies for conversion of Lloyds Account amounts from sterling to euro.

This is based on the sterling mid-closing rate on the last market day of each calendar year, as per the Central Bank. The rate for 2021 is Stg £1 = €1.1901.

The new Revenue eBrief publishing these details is here.

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