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HMRC approved exchange rates

This knowledge guide looks at the best print and electronic sources for current and historical exchange rates. On this page we focus on rates approved by HM Revenue & Customs for tax purposes.

Online sources

HM Revenue & Customs

HMRC publish foreign exchange rates for over 120 countries and currency zones. The data is based on daily figures published in the Financial Times.

Monthly rates are available from 2012 onwards.

Yearly averages and spot rates are given for the year to 31st March and 31st December, going back to December 2010.

An archive of exchange rates going back to 1999 is maintained at HMRC's Trade Info website.

Print sources

Simon's Taxes

Simon's Taxes gives a list of foreign exchange rates published annually by HMRC for converting amounts in foreign currency to sterling. The tables are located in Binder 10 Part F 3.1 and start in 1981-82 continuing up to the most recent year end. The averages for the year to 31st March and 31st December are given for 60 currencies from the Argentine peso to the Zimbabwe dollar.
The online version of Simon's Taxes still publishes exchange rates but only goes back to 2007/08.

Simon’s Weekly Tax Intelligence

Simon’s Weekly Tax Intelligence reproduced the annual tables of foreign exchange rates issued by the Inland Revenue (indexed under Miscellaneous notes and news). Exchange rates are available for 1974-1991 and 1993-2001 using the binders held by the ICAEW Library & Information Service.

1974-1977: Averages for the year to the end of March and the end of December.

1978-2001: Averages for the year to the end of March and the end of December. Spot rates for the end of March and the end of December.

The number of countries covered varies from year to year (for example the table of averages for 1984 contains rates for 80 countries compared to around 120 in 1996). The list of spot rates is much shorter, usually only covering 15-20 countries.

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