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Posted Thu, 16 Sep 2021 17:02:19 GMT by Ian A
Context: HMRC publishes "average" monthly and annual currency exchange rates, which it sources from the Financial Times for the purposes of foriegn income and capital gains / losses conversion to GBP. However, given I have a vast amount of trades during the year, some of which last a few days and were impacted by daily movements in currency exchange rates, it would be more appropriate to calculate forign income + capital gains & losses using daily currency exchange rates. Questions: As the HRMC does not provide a daily schedule and [Admin removed advertising] required a paid subscription for me to access histoical daily currency, may I use daily exchange rates from another source e.g.[Admin removed advertising]? Alternatively, is the HMRC able to provide daily exchange rates for the 2020/21 tax year? Or am I required to apply the average monthly exchange rate despite that number not being actual exchange rates when the transactions were effected?
Posted Mon, 20 Sep 2021 11:22:05 GMT by HMRC Admin 2
Hi,

As long as you have evidence to show where you have taken the exchange rates from and this is a valid source, then you can use the daily exchange rates if this is more applicable.

HMRC only provides monthly and yearly exchange rate figures. 

Thank you.
Posted Tue, 05 Apr 2022 17:21:08 GMT by HMK
Where could I find the April 2004 Exchange rates from HMRC?
Posted Thu, 07 Apr 2022 12:59:13 GMT by HMRC Admin 20
Hi HMK,

Please see guide:

 Rates Codes & Tools

Thank you.

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