I know this has been discussed in the past:

I have a foreign bank account, denominated in the local currency.  Within this account, I also hold other currencies. However, the other currencies, instead of relating to the local currency, is relating to my native currency: USD.  This greatly distorts the total value of my foreign bank balance.  This is a problem because I have to report the year end value of all foreign accounts over $10000.00 and one over $50000.00 (individual).

Is there ever going to be a resolution to this problem? Suggestions?



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