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 / Year||2018||2019||2020||2021|
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.