2018 Annual FX rates are posted.
https://www.irs.gov/individuals/interna ... ange-rates
Something has changed in the IRS calculation. Compare the updated IRS table with historical rates from e.g.
https://www.ofx.com/en-us/forex-news/hi ... nge-rates/
Compare 2018 vs 2017.
Annual FX rates
Moderator: Mark T Serbinski CA CPA
Re: Annual FX rates
The IRS has no official exchange rate. They say this themselves.
OFX is a company. How about just looking at a govt site, like bank of Canada, or US treasury.
OFX is a company. How about just looking at a govt site, like bank of Canada, or US treasury.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
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Re: Annual FX rates
Honestly, it's hard to say what affects the IRS calculation. At the moment, there are a huge number of economic and political factors that affect the stability of currencies. Among them are the actions of central banks in relation to the exchange rate, decisions of international organizations affecting economic issues, the level of inflation, etc. Political factors include the state's position in the world community, business relations with other states, elections, and the change of power. Of course, one of the important roles is supply and demand, which depends on the number of people, income level, tastes and preferences of the consumer audience, etc. All these factors separately affect the foreign exchange market. Even after studying all the existing <a href="https://fbs.com/analytics/tips">forex trading tips</a>, it is impossible to predict how the foreign exchange market will behave today.
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- Posts: 5
- Joined: Sun Feb 20, 2022 5:29 pm
Re: Annual FX rates
HelenBusheyQkyi wrote:
> Honestly, it's hard to say what affects the IRS calculation. At the moment, there are a huge number of economic and political factors that affect the stability of currencies. Among them are the actions of central banks in relation to the exchange rate, decisions of international organizations affecting economic issues, the level of inflation, etc. Political factors include the state's position in the world community, business relations with other states, elections, and the change of power. Of course, one of the important roles is supply and demand, which depends on the number of people, income level, tastes and preferences of the consumer audience, etc. All these factors separately affect the foreign exchange market. Even after studying all the existing forex trading tips https://fbs.com/analytics/tips , it is impossible to predict how the foreign exchange market will behave today.
Although I want to add that cryptocurrencies are much more unstable, although they are influenced by much fewer factors.
> Honestly, it's hard to say what affects the IRS calculation. At the moment, there are a huge number of economic and political factors that affect the stability of currencies. Among them are the actions of central banks in relation to the exchange rate, decisions of international organizations affecting economic issues, the level of inflation, etc. Political factors include the state's position in the world community, business relations with other states, elections, and the change of power. Of course, one of the important roles is supply and demand, which depends on the number of people, income level, tastes and preferences of the consumer audience, etc. All these factors separately affect the foreign exchange market. Even after studying all the existing forex trading tips https://fbs.com/analytics/tips , it is impossible to predict how the foreign exchange market will behave today.
Although I want to add that cryptocurrencies are much more unstable, although they are influenced by much fewer factors.