Euro at 1.1646 USD on June 1, 2026: official exchange rates for businesses

Key data

If your company invoices, collects or pays in dollars, pounds, yen or Swiss francs, the official exchange rate for June 1, 2026 is the one you must use to value those operations for accounting and tax purposes. The Resolution from the Bank of Spain published on June 2, 2026 in the BOE sets these values as official exchange rates, in accordance with article 36 of Law 46/1998.

This is not a guidance reference: these rates are those set by the European Central Bank for that date and have legal validity for any conversion that must be justified before the Tax Agency, auditors or in the company's official accounting.

What does this regulation establish?

The Bank of Spain publishes daily, in accordance with article 36 of Law 46/1998, the euro exchange rates set by the European Central Bank. These rates are considered official exchange rates and are the legal reference for any operation requiring conversion of currencies to euros or vice versa on that specific date.

The rates published for June 1, 2026 are as follows:

These four pairs are the most relevant for international trade of Spanish companies, as noted in the resolution summary. The regulation supports their use in commercial, accounting and tax operations requiring currency conversion with legal basis.

Economic and operational impact

The official exchange rate is not just market data: it has direct consequences on the income statement and tax obligations of any company with international activity.

• Valuation of invoices in foreign currencies: An invoice issued or received on June 1, 2026 in dollars must be converted to euros using the rate 1.1646 USD/EUR. Using a different rate could generate valuation differences that the Tax Agency might question.
• Calculation of taxable bases in VAT and Corporate Income Tax: International operations in foreign currency must be declared in euros. The official rate on the date of the operation is the reference for determining the taxable base.
• Accounting for assets and liabilities in foreign currencies: Companies with debts, credits or cash in foreign currency must value those positions at the official rate of the period closing or the transaction date, according to the General Accounting Plan.
• Exchange differences: The difference between the rate at which an operation was recorded and the rate at which it was finally settled generates a financial result (positive or negative) that must be reflected in the profit and loss account.

Who does it affect?

• Exporting companies that invoice in USD, GBP, JPY or CHF and must convert their income to euros for accounting and tax reporting.
• Importing companies that pay foreign suppliers in foreign currencies and need to record the cost in euros at the official rate of the day.
• Finance departments and CFOs responsible for closing accounts in June 2026 and valuing foreign currency positions.
• Tax and accounting advisors who prepare VAT returns, Corporate Income Tax or related-party transactions with international components.
• Companies with foreign currency financing (CHF loans, USD bonds, etc.) that must update the value of their liabilities.
• Individuals with foreign income or assets who must declare foreign currency income or property to the Tax Agency.

Practical example

A Spanish company imports machinery from a US supplier and receives an invoice for 100,000 USD dated June 1, 2026.

Applying the official rate published by the Bank of Spain for that date (1 EUR = 1.1646 USD), the amount to record in accounting is:

100,000 USD ÷ 1.1646 = 85,864.27 EUR

If the company had used a different exchange rate—for example, the previous day's rate or its commercial bank's rate—it could record a different figure, which would generate a discrepancy against the official rate. In a tax inspection, the Tax Agency will use the official rate published by the Bank of Spain as reference to verify the correct valuation of the operation.

The same principle applies to a company that has a debt of 500,000 CHF: at the official rate of 0.9128 CHF/EUR, that liability equals 547,981.49 EUR for accounting purposes on June 1, 2026.

What should companies do now?

1. Identify all foreign currency operations on June 1, 2026 — invoices issued or received, collections, payments and any transaction in USD, JPY, GBP or CHF that must be recorded in accounting on that date.
2. Apply the official rates published — use exactly the values from this resolution (1.1646 USD, 185.74 JPY, 0.86493 GBP, 0.9128 CHF) for conversion to euros, without substituting them with bank or market rates.
3. Update the valuation of assets and liabilities in foreign currencies — if the June accounting closing includes open positions in foreign currency, apply these rates to calculate the exchange differences for the period.
4. Document the rate used in each operation — keep the reference to this BOE resolution as documentary support for possible tax reviews or audits.
5. Verify the impact on VAT and Corporate Income Tax taxable bases — ensure that tax returns including operations from this date reflect conversion at the official rate, not the bank settlement rate.

Official source

Consult complete regulation in official source

Notice: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-11843