Currency Converter
Convert between major currencies using dated reference rates. They are not live: check a live source, such as your bank, before you exchange money.
🌍 Working with International Clients?
Foreign income is 100% taxable in the US. Report it in USD using the exchange rate on the date you received payment — not the date you invoice or convert the funds.
IRS Publication 54 governs foreign income for US citizens and resident aliens. Keep records of the exchange rate used for each payment received.
Frequently Asked Questions
How accurate are these exchange rates?
They are reference rates, not live ones: the converter shows the date they were added to the site. Market rates move every day, so use them for a rough figure and check a live source before you exchange money or invoice in another currency.
Will my bank use these exact rates?
No. These are dated reference rates, not today's rate, and banks, PayPal and payment processors also add their own margin when they convert money. Expect to receive less than a quoted mid-market rate when an international client pays you.
How do I invoice an international client?
It is usually best to invoice the client in YOUR local currency, forcing them to absorb the exchange rate risk. If you must invoice in their currency, use this tool to calculate the conversion, and add a 3% buffer to protect against currency fluctuations while the invoice is pending.
Are exchange rate losses tax deductible?
Yes! If you invoice a client for $1,000 USD but only receive $970 USD due to bank conversion fees and exchange rate fluctuations, that $30 difference is a deductible business expense.