Thus Fritz's salary would be between $98,100 and $214,000 today For a salary or annual income, you will see that the 'Consumer Bundle' or 'GDP per capita' would be the best measures. Which measure would be most appropriate? Read the explanatory page on the site, Choosing the Best Indicator to Measure Relative Worth.£183,000 or $537,000 using the relative share of GDP £132,000 or $214,000 using the nominal GDP per capita £78,500 or $91,000 using the average earnings / unskilled wage * $98,100 using the value of consumer bundle £29,400 or $41,900 using the Consumer Price Index Inflating to the year 2017 the various indexes yield the following results: Now go to the inflation calculators section below, and see what $2409 (or £484) in 1938 would be worth today (the calculator is excellent-I think it might be more accurate to use the UK calculator than the US calculator, as Germany's economic indicators may have tracked those more closely).First, using the tables immediately below, convert the 1938 Marks to 1938 dollars.Welcome suggestions for additions to this page: 1938 FritzĮarned 6000 Marks, what would his equivalent salary be today? They can be valued (scroll down for tables). Notgeld website with historical background, scans and links, has a page Collector Values of Old German banknotes with lots of information.ġ920s German Notgeld (inflationary 'emergency' money).You may have, I suggest looking on ebay under: This page is about how past amounts in Marks can be converted How much old German paper money is worth on the market today?.Professor of German History at UC Santa BarbaraĬreated August 19, 2005, last updated 10/7/18 Projects > Historical Dollar-to-Marks Conversion Page dollars by the bank processing the payment, not the date the foreign currency payment is received by the IRS.Historical US Dollars to German Marks currency conversion UC dollars is based on the date the foreign currency is converted to U.S. tax payments in a foreign currency, the exchange rate used by the IRS to convert the foreign currency into U.S. Note: The exchange rates referenced on this page do not apply when making payments of U.S. Below are government and external resources that provide currency exchange rates. Currency Exchange RatesĪn exchange rate is the rate at which one currency may be converted into another, also called rate of exchange of foreign exchange rate or currency exchange rate.

dollars to report on your income tax return. At the end of the year, translate the results, such as income or loss, into U.S. dollar, make all income tax determinations in your functional currency. If your functional currency is not the U.S. You can generally get exchange rates from banks and U.S. If there is more than one exchange rate, use the one that most properly reflects your income. Use the exchange rate prevailing when you receive, pay, or accrue the item. (including taxes), that you receive, pay, or accrue in a foreign currency and that will affect computation of your income tax. dollar, you must immediately translate into dollars all items of income, expense, etc. Make all income tax determinations in your functional currency. The business books and records are not kept in the currency of the economic environment in which a significant part of the business activities is conducted.

Historical currency converter