Colombia | DEC alternative conversion factor (LCU per US$)
The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar. Statistical concept and methodology: The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. In certain countries, multiple or dual exchange rate activity exists and must be accounted for appropriately in underlying statistics. Doing so better reflects economic reality and leads to more accurate cross-country comparisons and country classifications by income level. Consequently, an alternative conversion factor is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. An alternative conversion factor is also used when the period covered by national accounts differs from the calendar year and the alternative conversion factor will then cover the same period. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source
Colombia | DEC alternative conversion factor (LCU per US$)
1960 6.635
1961 6.7
1962 6.901208
1963 9
1964 9
1965 10.5
1966 13.5
1967 14.5067
1968 16.2917
1969 17.3217
1970 18.4442
1971 19.9333
1972 21.8667
1973 23.5717
1974 26.0617
1975 30.9275
1976 34.695
1977 36.7742
1978 39.095
1979 42.5483
1980 47.2783
1981 54.4892
1982 64.0858
1983 78.8575
1984 100.8175
1985 142.311667
1986 194.2608
1987 242.6067
1988 299.1733
1989 382.5667
1990 502.26
1991 627.1525
1992 680.385833
1993 786.346667
1994 826.54
1995 912.895
1996 1036.6225
1997 1141.116667
1998 1426.424167
1999 1756.685833
2000 2087.918333
2001 2299.893333
2002 2504.680833
2003 2877.543333
2004 2628.368333
2005 2321.13166667
2006 2358.59460526
2007 2077.81095833
2008 1965.1375
2009 2157.59833333
2010 1898.9975
2011 1848.01666667
2012 1798.01166667
2013 1868.895
2014 2001.105
2015 2741.78166667
2016 3055.255
2017 2951.4869112
2018 2955.70396998
2019 3281.62219382
2020 3693.27583333
2021 3744.24416667
2022 4256.19416667
Colombia | DEC alternative conversion factor (LCU per US$)
The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar. Statistical concept and methodology: The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. In certain countries, multiple or dual exchange rate activity exists and must be accounted for appropriately in underlying statistics. Doing so better reflects economic reality and leads to more accurate cross-country comparisons and country classifications by income level. Consequently, an alternative conversion factor is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. An alternative conversion factor is also used when the period covered by national accounts differs from the calendar year and the alternative conversion factor will then cover the same period. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source