Argentina | Official exchange rate (LCU per US$, period average)

Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar). Development relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world. Limitations and exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output. Statistical concept and methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.
Publisher
The World Bank
Origin
Argentine Republic
Records
63
Source
Argentina | Official exchange rate (LCU per US$, period average)
1960
1961
1962
1963 0
1964 0
1965 0
1966 0
1967 0
1968 0
1969 0
1970 0
1971 0
1972 0
1973 0
1974 0
1975 0
1976 0
1977 0
1978 1.0E-8
1979 1.0E-8
1980 2.0E-8
1981 4.0E-8
1982 2.6E-7
1983 1.05E-6
1984 6.76E-6
1985 6.018E-5
1986 9.43E-5
1987 0.00021443
1988 0.00087526
1989 0.04233396
1990 0.48758908
1991 0.95355442
1992 0.99064167
1993 0.99894583
1994 0.99900833
1995 0.99975
1996 0.9996625
1997 0.9995
1998 0.9995
1999 0.9995
2000 0.9995
2001 0.9995
2002 3.06325667
2003 2.90062917
2004 2.92330082
2005 2.9036575
2006 3.05431333
2007 3.09564885
2008 3.14416456
2009 3.71010683
2010 3.89629515
2011 4.11013958
2012 4.53693436
2013 5.45935266
2014 8.07527599
2015 9.23318552
2016 14.75817509
2017 16.56270693
2018 28.09499167
2019 48.14789167
2020 70.53916667
2021 94.99074167
2022 130.61655

Argentina | Official exchange rate (LCU per US$, period average)

Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar). Development relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world. Limitations and exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output. Statistical concept and methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.
Publisher
The World Bank
Origin
Argentine Republic
Records
63
Source