Bahrain | 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
Kingdom of Bahrain
Records
63
Source
Create chart Download showed records Download Full dataset
Bahrain | Official exchange rate (LCU per US$, period average)
1960
1961
1962
1963
1964
1965
0.47619 1966
0.47619 1967
0.47619 1968
0.47619 1969
0.47619 1970
0.47479629 1971
0.43859778 1972
0.39963031 1973
0.39474 1974
0.3955 1975
0.39559917 1976
0.39565 1977
0.38745333 1978
0.3816175 1979
0.37700023 1980
0.376 1981
0.376 1982
0.376 1983
0.376 1984
0.376 1985
0.376 1986
0.376 1987
0.376 1988
0.376 1989
0.376 1990
0.376 1991
0.376 1992
0.37599999 1993
0.37599997 1994
0.37599997 1995
0.37599997 1996
0.37599997 1997
0.37599996 1998
0.37599998 1999
0.376 2000
0.376 2001
0.376 2002
0.376 2003
0.376 2004
0.376 2005
0.376 2006
0.376 2007
0.376 2008
0.376 2009
0.376 2010
0.376 2011
0.376 2012
0.376 2013
0.376 2014
0.376 2015
0.376 2016
0.376 2017
0.376 2018
0.376 2019
0.376 2020
0.376 2021
0.376 2022
Bahrain | 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
Kingdom of Bahrain
Records
63
Source
Create chart Download showed records Download Full dataset