HMRC exchange rates 2023
Every HMRC monthly period rate published for 2023 — 12 months, around 140 currencies each. These are the rates to use when converting a 2023 transaction for a VAT return, a customs declaration or a correction: the rate that applies is the one for the period the transaction falls in, not the rate in force when the paperwork is done.
The year in the main currencies
High, low and average of the published monthly rates across 2023. HMRC issues each month on its own and publishes no annual summary, so this comparison is ours.
| Currency | Low | High | Average | Spread | Jan → Dec |
|---|---|---|---|---|---|
| AUD | 1.7446 Mar |
1.9677 Sep |
1.8648 | 12.8% | +5.7% |
| CAD | 1.6104 Mar |
1.7184 Dec |
1.6765 | 6.7% | +2.1% |
| CHF | 1.0956 Nov |
1.1459 Jan |
1.1191 | 4.6% | -3.3% |
| EUR | 1.1242 Mar |
1.1683 Sep |
1.1495 | 3.9% | -1.3% |
| JPY | 159.1008 Feb |
186.5126 Dec |
173.7983 | 17.2% | +11.5% |
| USD | 1.2002 Mar |
1.2886 Aug |
1.2432 | 7.4% | +1.0% |
The widest swing among these was JPY, ranging 17.2% between its lowest month (February 2023) and its highest (December 2023). For a business invoicing in that currency through 2023, that is the size of the reporting difference between one month and another on an otherwise identical invoice.
Every month of 2023
Other years
For the month HMRC has most recently published, and an explanation of which rate applies to which tax, see our HMRC exchange rates page. If you are converting money rather than reporting it, the FX calculator shows what a provider's margin costs against the mid-market rate.
Source: HMRC monthly exchange rate files via the UK Online Trade Tariff, under the Open Government Licence v3.0 · Editorial policy