# Blog

## What to report on FBAR?

FBAR Exchange Rate for 2018 = 1.3620 FBAR Exchange Rate for 2017 = 1.2550 FBAR Exchange Rate for 2016 = 1.3460 FBAR Exchange Rate for 2015 = 1.3860 FBAR Exchange Rate for 2014 = 1.1580 FBAR Exchange Rate for 2013 = 1.0637

## Where to exchange currency at the best rates?

• The following are some of the best and least expensive places to convert currency: Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

## How to read calculate currency conversion rates?

• Multiply the money you've budgeted by the exchange rate. The answer is how much money you'll have after the exchange. If "a" is the money you have in one currency and "b" is the exchange rate, then "c" is how much money you'll have after the exchange. So a * b = c, and a = c/b.

## How do you calculate exchange rate?

• The formula for calculating exchange rates is to multiply when exchanging from base currency to a secondary currency, and to divide when vice-versa. Therefore, if the EUR/USD exchange rate is 1.30 euros, and \$100 is to be converted into euros, the formula is \$100 divided by 1.3, giving 76.92 euros.

## What to report on FBAR?What to report on FBAR?

A United States person must file an FBAR report if that person has financial interest in, signature authority, or other authority over any financial account (s) in a foreign country and the aggregate value of these account(s) exceeds \$10,000 at any time during the calendar year.

## Where to exchange currency at the best rates?Where to exchange currency at the best rates?

The following are some of the best and least expensive places to convert currency: Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

## How to read calculate currency conversion rates?How to read calculate currency conversion rates?

Multiply the money you've budgeted by the exchange rate. The answer is how much money you'll have after the exchange. If "a" is the money you have in one currency and "b" is the exchange rate, then "c" is how much money you'll have after the exchange. So a * b = c, and a = c/b.

## How do you calculate exchange rate?How do you calculate exchange rate?

The formula for calculating exchange rates is to multiply when exchanging from base currency to a secondary currency, and to divide when vice-versa. Therefore, if the EUR/USD exchange rate is 1.30 euros, and \$100 is to be converted into euros, the formula is \$100 divided by 1.3, giving 76.92 euros.