2017 income exchange rates

This spring you will be declaring income received in 2017 (see our helpguides website tab to order our 2018 income tax helpguide).

The letter of the law says you should use the rate on the day the income was received into your bank account, however if, like many expats, you receive regular foreign currency income then the use of an average rate for the calendar year is tolerated. If you wish, you can mention on the notes section of the main 2042 form (or corresponding online box) what system and rate you used.

The Finance Ministry told Connexion a suitable method is to take the Banque de France month-end rates for December 2016 and December 2017 and average them. This gives you a euro to sterling rate of €1 to £0.8717, corresponding to:

£1 = €1.1472

Other rates include:

$1 Canada = €0.6843

$1 New Zealand = €0.6248

$1 Australia = €0.668

1$ USA = €0.8875

1 ZAR S. Africa = €0.0683

1Fr Switzerland = €0.8912