Forex rates and currency converter: dollars, rupees, euros and more
Daily European Central Bank reference rates for the U.S., Canadian and Indian currencies and a dozen others, with a converter, 90-day charts and a plain explanation of which rate belongs on a tax return.
Prepared by Prem Tax and Accounting Corp. Last checked against official sources on October 23, 2026.
These forex rates are the European Central Bank (ECB) daily reference rates, delivered through a free service called Frankfurter. The table shows how the U.S. dollar, the Canadian dollar and the Indian rupee stand against each other and against a dozen other currencies. They are good for getting a feel for a currency. They are not what your bank will give you, and they are not, on their own, the rate that belongs on a tax return.
- The numbers are indicative and are published once on each business day. Always read the "as of" date next to them.
- Use the table to compare currencies, the converter for a quick sum and the charts to see where a rate has been, never where it is going.
- Tax returns use specific rates that differ by country and by form. They are set out in the section below, with links to the rate tables we keep for the U.S. forms.
Rates against the U.S. dollar, Canadian dollar and Indian rupee
ECB reference rates for October 22, 2026. Each number is how many units of the currency in the row equal one U.S. dollar (USD), one Canadian dollar (CAD) or one Indian rupee (INR); the last column is the value of one unit in U.S. dollars. The rates are published once on each business day.
| Currency | Per 1 USD | Per 1 CAD | Per 1 INR | USD per unit |
|---|---|---|---|---|
| U.S. dollar USD | 1.0000 | 0.71256 | 0.010546 | 1.0000 |
| Canadian dollar CAD | 1.4034 | 1.0000 | 0.014801 | 0.71256 |
| Indian rupee INR | 94.82 | 67.56 | 1.0000 | 0.010546 |
| Euro EUR | 0.89246 | 0.63593 | 0.009412 | 1.1205 |
| British pound GBP | 0.74761 | 0.53271 | 0.007885 | 1.3376 |
| Australian dollar AUD | 1.4261 | 1.0162 | 0.015040 | 0.70121 |
| Japanese yen JPY | 157.05 | 111.91 | 1.6563 | 0.006367 |
| Chinese yuan (renminbi) CNY | 6.6743 | 4.7558 | 0.070389 | 0.14983 |
| Swiss franc CHF | 0.82204 | 0.58575 | 0.008669 | 1.2165 |
| Singapore dollar SGD | 1.2776 | 0.91036 | 0.013474 | 0.78272 |
| Danish krone DKK | 6.6709 | 4.7534 | 0.070353 | 0.14990 |
| Hong Kong dollar HKD | 7.8398 | 5.5863 | 0.082681 | 0.12755 |
| Mexican peso MXN | 18.76 | 13.37 | 0.19786 | 0.053301 |
| Norwegian krone NOK | 9.3601 | 6.6696 | 0.098714 | 0.10684 |
| New Zealand dollar NZD | 1.7603 | 1.2543 | 0.018565 | 0.56808 |
| Swedish krona SEK | 9.9170 | 7.0664 | 0.10459 | 0.10084 |
| South African rand ZAR | 16.52 | 11.77 | 0.17418 | 0.060548 |
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Currency converter
Indicative ECB reference rates, not the rate a bank, card or money-transfer service will give you.
The last 90 days
Each chart plots the 90 daily ECB reference rates in the saved snapshot. They show where a rate has been, not where it is going.
What these rates are, and what they are not
The ECB says its reference rates are usually updated at around 16:00 Central European time every working day, except on TARGET closing days, and that they are based on a daily concertation procedure between central banks across Europe that normally takes place around 14:10 CET. It also says they are published for information purposes only, and that using them for transaction purposes is strongly discouraged.
In plain terms: this is a fair, widely used yardstick, set once a day. It is not a price anyone has to give you, and on a day of sharp moves it will lag what the market is doing later in the day.
Which exchange rate do taxpayers use?
None of the answers below is the ECB rate in the table above. Each tax system names its own source, and a mismatch is one of the most common small errors we see on returns for families with money in more than one country.
| Return or form | What the official source says | Where to find the numbers |
|---|---|---|
| U.S. income tax return | The IRS says it has no official exchange rate and generally accepts any posted rate that is used consistently. If your functional currency is the U.S. dollar, translate each item of income and expense at the rate prevailing when you receive, pay or accrue it; if there is more than one rate, use the one that most properly reflects your income. | IRS yearly average rates and our other rate tools |
| FBAR (FinCEN Form 114) | Convert the maximum account value using the Treasury rate for the last day of the calendar year. If no Treasury rate is available, use another verifiable rate and state its source. The report is due April 15 with an automatic extension to October 15. | Treasury quarterly rates and our FBAR service page |
| Form 8938 | In most cases the U.S. Treasury Bureau of the Fiscal Service rate for purchasing U.S. dollars, on the last day of the tax year. If none is available, another public rate, which you disclose on the form. | Treasury quarterly rates |
| Canadian income tax return | The Canada Revenue Agency says to convert foreign interest and dividends at the Bank of Canada rate in effect on the day the amount arose. In certain circumstances an average of rates over the period may be used, and a rate from another source is accepted only if listed conditions are met. | Bank of Canada daily rates and annual averages |
| Indian income tax return | Rule 115 of the Income-tax Rules converts income in foreign currency into rupees at the telegraphic transfer buying rate on a "specified date", and that date depends on the kind of income. It is a rupee-conversion rule for Indian returns, separate from anything on a U.S. return. | The Income Tax Department's rules; ask your Indian adviser which date applies |
Habits that save trouble for families with money in two countries
- Write down the rate and its source each time you convert an amount for a return. A year later, "I used the bank rate" is hard to reconstruct.
- Pick one source for ordinary income and stay with it. The IRS wording is "consistently", and switching rates to improve a result is the opposite.
- Keep statements in the original currency. The year-end balance in rupees or Canadian dollars is the document; the dollar figure is a conversion of it.
- Treat year-end differently from the rest of the year. FBAR and Form 8938 look at the last day of the year, while income is translated as it arises.
- Do not use this page for filing. Use it to sense-check a figure, then take the official rate from the source named in the table above.
For the people-side of this, see our pages for international families, India accounts, investments and property and the tax calendar, where the FBAR dates sit.
Common questions
How often do these rates change?
The European Central Bank publishes its reference rates once on each business day, usually in the afternoon Central European time. Between publications the numbers on this page stay the same. When you open the page, it also asks Frankfurter for a newer figure and, if it gets one within a few seconds, shows it and its date. If that fails, you see the saved snapshot and its date.
Why does my bank or card show a different rate?
The ECB says its reference rates are published for information only and that using them for transactions is strongly discouraged. Banks, card networks and money-transfer services quote their own rates and fees, at their own times. Treat the table here as a yardstick, not as a quote.
Can I use these rates on my FBAR or my tax return?
Not by default. The FBAR instructions point to the Treasury rate for the last day of the calendar year, Form 8938 generally points to the Treasury Bureau of the Fiscal Service rate, the IRS accepts any posted rate for ordinary income if it is used consistently, and Canada and India each have their own rules. The table above lays them out, and our Treasury and IRS rate pages carry those figures.
Why is there no new rate on weekends or holidays?
Because the ECB publishes only on business days (it skips TARGET closing days). A rate dated Friday is the latest available until the next publication.
Does the converter send my amount anywhere?
No. The arithmetic runs in your browser using the rates already on the page. The only outside request is the one for the latest rates, and it contains no amount.
Official sources
- European Central Bank: euro foreign exchange reference rates
- Frankfurter: free exchange rates API
- IRS: Foreign currency and currency exchange rates
- FinCEN: FBAR line item instructions (currency conversion, Step 2)
- IRS: Instructions for Form 8938 (foreign currency conversion)
- Canada Revenue Agency: line 12100, foreign interest and dividends (exchange rate)
- Income Tax Department of India: Rule 115 (rate of exchange for conversion into rupees)
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