Just wanted to give everyone a heads up, on the 12th of August, FinCen issued a clarification on how to correctly report Foreign Currency amounts. The Specification for Magnetic Filing (xall.pdf) was also updated, but the date of the spec is still July 2004, so if you mag file you may need to check your file out to see if it is correct or not before you send the next one off.
The basic jist of the clarification is that box 26a and 27a on the 104 form are to be filled out using the actual foreign amount, not the US dollar equivalent. The only really good news is that nobody will be required to refile any old ctr's that have the foreign currency listed in US $.
Paul.