I have a small, yet important question about FBAR, the policy regarding the reporting of foreign bank account.
The rule says that I only have to report when the aggregate amount exceeds 10,000 US dollars equivalent at any point of calendar year.
So my question is: Which exchange rate (for the currency) do I need to use? Is it the end-of-year exchange rate for the year 2015, DEC 31? (If I am concerned about the financial activities that have transpired since the beginning of 2015.)
Thanks bunch in advance!