SARS released updated Average Exchange Rates covering selected major currencies, with the tables providing annual and monthly rates for tax calculations and different assessment periods.
The South African Revenue Services (SARS) released updated Average Exchange Rates on 9 September 2026, providing essential data for calculations. The update includes rates for the Australian dollar, Canadian dollar, Euro, Hong Kong dollar, Indian rupee, Japanese yen, Swiss franc, UK pound, and US dollar.
The term “average exchange rate” is defined in section 1(1) of the Act and means, in relation to a year of assessment, the average exchange rate determined by using the closing spot rates at the end of daily or monthly intervals during a year of assessment. This rate must be applied consistently within that year of assessment.
Table A provides a list of the average exchange rates of selected currencies for a full year of assessment, starting from December 2003, while Table B presents a list of the monthly average exchange rates to assist individuals whose year of assessment is shorter or longer than 12 months.
The next update can be expected in December 2026.
