Hello,
What source does one use as the exchange rate for an FBAR when the account only had a balance(over 10k) for one day during the year?
It seems the US Treasury end of year rate is used, generally, but that is assumed there was money in
the account all year or at least at the end of the year.
Also, this US Treasury rate is provided only once per year and would show more than 10% more USD
value in the account than was actually taken out.
Have read the Treasury does not like other sources for the rate. Is this correct or how to proceed?
Thanks in advance.
