List: exchange rates for declaring foreign income in 2025 french tax declarations

ALL FOREIGN INCOME MUST BE CONVERTED AND DECLARED IN EUROS  If you received French-declarable income in 2024 in a currency other than euros, the amounts must be converted into euros for

declaration in your French tax return.  This, then, gives rise to the question of which rate to use.  While tax declaration time is still some way off – the deadline dates are usually from

mid-May to early June and have not yet been announced for 2025 – it is already possible to check conversion rates, with the Banque de France’s rates being seen as the most authoritative. 

According to the letter of the law, income received in a foreign currency should be declared according to the rate on the day it was received.  The Banque de France’s website is not very

user-friendly, but you can find daily rates, starting with the most recent dates and working back, by clicking the relevant button here.  That might work well if you received only a few

one-off amounts in a foreign currency, but for convenience, tax offices officially accept the use of an average.  Different methods are sometimes suggested for calculating this, but

officials at the central tax authority DGFiP have told us that the following is acceptable: take the Banque de France month-end rates for December of the tax year in question (2024) and for

December of the previous year (2023) and average them, by adding them together and dividing by two.  This originally came from an Economy Ministry response to an MP who had asked about

declaration of Swiss income for people living in Alsace (see here).  The information is also repeated at line 20 in this official tax office bulletin page about taxable income (see here). As

it is ‘end of month’ figures we require for the calculation, a search on the bank’s website for taux de change fin de mois is a quicker solution than looking for the individual days.  By

using this method, for the year 2024, we obtain the following euro to pound sterling rates:  * December 31, 2024: £0.8292 *  December 31, 2023: £0.8691  * Average = £0.84915 The sterling to

euro rate can be obtained as follows: 1 ÷ 0.84915 = €1.17764, or €1.18 rounded up. You can then multiply amounts in sterling by this conversion rate figure, eg. £100 = €118. The same method

gives the following for these currencies:  * 1 US dollar = €0.93 * 1 Australian dollar = €0.61  * 1 Canadian dollar = €0.68  * 1 New Zealand dollar = €0.56  We will check further currencies

for our annual help guide to French income tax.  Our 2025 edition (for 2024 income) will be available here from April.