IRS
2008 U.S. Dollar - Euro Exchange Rate Information
The IRS requires that all income be reported in U.S. dollar equivalents, through the Internal Revenue Service has no official exchange rate and accepts any posted exchange rate that is used consistently.
For additional exchange rates, check the U.S. Treasury website at http://fms.treas.gov/intn.html#rates or other commercial sites such as http://www.oanda.com.
2008 Yearly Average: 1 U.S. Dollar = 0.683 Euro
Monthly Averages: 1 U.S. Dollar =
December 31, 2008: 1 USD= 0.710 Euro
0.680 Euro January
0.679 Euro February
0.646 Euro March
0.635 Euro April
0.643 Euro May
0.642 Euro June
0.634 Euro July
0.667 Euro August
0.695 Euro September
0.749 Euro October
0.787 Euro November
0.744 Euro December
Taxpayers generally use the yearly average exchange rate to report foreign income that was regularly received throughout the year. If you had a few foreign transactions on particular days, however, you may prefer to use the exchange rates for such days.
To convert from Euros to Dollars, divide the Euro amount by the applicable abovementioned decimal figure.
To convert from Dollars to Euros, multiply the Dollar amount by the applicable abovementioned decimal figure.