Yearly Average Exchange Rates. When translating foreign currency values into U.S. dollar values for individual reporting purposes in the United States, which average exchange rates should you use? Use the following Website to find the current average rates.

U.S. Internal Revenue Service (n.d.). Yearly Average Currency Exchange Rates. Retrieved on December 31, 2023 from: www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-RatesLinks to an external site.

Links to an external site.How would you use this information in a translation? What types of accounts would you apply it to?