Costa Rica | 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
Republic of Costa Rica
Records
63
Source
Costa Rica | Official exchange rate (LCU per US$, period average)
1960 5.615
1961 5.95166667
1962 6.62500001
1963 6.62500001
1964 6.62500001
1965 6.62500001
1966 6.62500001
1967 6.62500001
1968 6.62500001
1969 6.62500001
1970 6.62500001
1971 6.62583334
1972 6.635
1973 6.64675833
1974 7.93
1975 8.57
1976 8.57
1977 8.57
1978 8.57
1979 8.57
1980 8.57
1981 21.76333333
1982 37.40666667
1983 41.09416667
1984 44.53268333
1985 50.45335
1986 55.98589167
1987 62.7762
1988 75.80473333
1989 81.50420833
1990 91.57929167
1991 122.43241667
1992 134.50633333
1993 142.17166667
1994 157.06666667
1995 179.72916667
1996 207.68916667
1997 232.5975
1998 257.22916667
1999 285.68469483
2000 308.18666667
2001 328.87083333
2002 359.81752688
2003 398.66222222
2004 437.935
2005 477.78674149
2006 511.30181794
2007 516.61739023
2008 526.23551344
2009 573.28795673
2010 525.82920072
2011 505.66423992
2012 502.90146198
2013 499.76683257
2014 538.31720028
2015 534.56576997
2016 544.73936723
2017 567.51309031
2018 576.97250125
2019 587.29459569
2020 584.90085496
2021 620.78472001
2022 647.13581763

Costa Rica | 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
Republic of Costa Rica
Records
63
Source