Ethiopia | 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
Federal Democratic Republic of Ethiopia
Records
63
Source
Create chart Download showed records Download Full dataset
Ethiopia | Official exchange rate (LCU per US$, period average)
2.48447 1960
2.48447 1961
2.48447 1962
2.48447 1963
2.5 1964
2.5 1965
2.5 1966
2.5 1967
2.5 1968
2.5 1969
2.5 1970
2.493475 1971
2.3 1972
2.09875 1973
2.07 1974
2.07 1975
2.07 1976
2.07 1977
2.07 1978
2.07 1979
2.07 1980
2.07 1981
2.07 1982
2.07 1983
2.07 1984
2.07 1985
2.07 1986
2.07 1987
2.07 1988
2.07 1989
2.07 1990
2.07 1991
2.8025 1992
5 1993
5.465 1994
6.15833333 1995
6.351675 1996
6.70934167 1997
7.11590833 1998
7.94225 1999
8.21725833 2000
8.45749167 2001
8.56775 2002
8.59968333 2003
8.63558333 2004
8.66644167 2005
8.69861583 2006
8.96595 2007
9.59974167 2008
11.77759967 2009
14.40958981 2010
16.89922576 2011
17.70476138 2012
18.62662896 2013
19.58578991 2014
20.57684875 2015
21.73154722 2016
23.86610446 2017
27.42938659 2018
29.06975 2019
34.9271654 2020
43.73377832 2021
51.75621503 2022
Ethiopia | 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
Federal Democratic Republic of Ethiopia
Records
63
Source
Create chart Download showed records Download Full dataset