Egypt, Arab Rep. | 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
Arab Republic of Egypt
Records
63
Source
Egypt, Arab Rep. | Official exchange rate (LCU per US$, period average)
1960 0.348242
1961 0.348242
1962 0.40448913
1963 0.43478261
1964 0.43478261
1965 0.43478261
1966 0.43478261
1967 0.43478261
1968 0.43478261
1969 0.43478261
1970 0.43478261
1971 0.43478264
1972 0.43478261
1973 0.39795624
1974 0.39130367
1975 0.39130367
1976 0.39130367
1977 0.39130367
1978 0.39130367
1979 0.7000007
1980 0.7000007
1981 0.7000007
1982 0.7000007
1983 0.7000007
1984 0.7000007
1985 0.7000007
1986 0.7000007
1987 0.7000007
1988 0.7000007
1989 0.86666667
1990 1.55
1991 3.13800833
1992 3.32174833
1993 3.3525175
1994 3.38513333
1995 3.39220833
1996 3.39148333
1997 3.38875
1998 3.388
1999 3.39525
2000 3.47205
2001 3.973
2002 4.49966667
2003 5.850875
2004 6.19624167
2005 5.77883333
2006 5.73316667
2007 5.63543333
2008 5.4325
2009 5.54455331
2010 5.62194292
2011 5.93282765
2012 6.05605833
2013 6.870325
2014 7.07760856
2015 7.69125833
2016 10.02540079
2017 17.78253352
2018 17.76729042
2019 16.77058184
2020 15.75917292
2021 15.64452728
2022 19.16043974

Egypt, Arab Rep. | 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
Arab Republic of Egypt
Records
63
Source