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Exchange rate for tax return


woolybanana

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[quote user="Patf"]I've been looking into that today, and came up with £1 = €1.24, which gives .87 .  Quite a difference.

I'm confused.

[/quote]

Are you multiplying when you should be dividing, or vice versa ?

£1 divided by 0.8064 = 1.24€.

1.24€ x 0.8064 = £0.999936 = £1.

Sue

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I use the rate on the day the money arrived in my account.

Download the Interbank rate from Banque de France http://www.banque-france.fr/gb/statistiques/taux/parites-quotidiennes.htm and Select Quotidien. Then Select Livre Sterling and the exchange rates open in another web page. You can then scroll down to the 2014 daily data. I then just select the data for the whole year and paste it in to a text document.

I then open that document using the LibreCalc spreadsheet and it is opened with the import dialogue:

Change Language to French (France) so the commas in the numbers are changed to decimal points in number column

Change date column Fields:Column Type to Date(DMY).

As I have all my tax data in a spreadsheet, I copy and paste that exchange rate data into an empty area in the tax spreadsheet (e.g. columns L and M). I can then just use the lookup function to generate the euro value of sterling e.g. =LOOKUP(B12,$L$1:$L$261,$M$1:$M$261) where B12 is a data and $L$1:$L$261,$M$1:$M$261 is the exchange rate date and value. For bank holidays where there is no value and it is shown as ND, I replace the ND with the value on the next day.

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