Israel | 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
State of Israel
Records
63
Source
Israel | Official exchange rate (LCU per US$, period average)
1960 0.00018
1961 0.00018
1962 0.00029
1963 0.0003
1964 0.0003
1965 0.0003
1966 0.0003
1967 0.00030833
1968 0.00035
1969 0.00035
1970 0.00035
1971 0.00037917
1972 0.00041798
1973 0.00041947
1974 0.00044515
1975 0.00063361
1976 0.00079256
1977 0.00104455
1978 0.00174354
1979 0.00254064
1980 0.00512429
1981 0.01143057
1982 0.024267
1983 0.05621449
1984 0.29320967
1985 1.17884933
1986 1.48784167
1987 1.59464167
1988 1.59893333
1989 1.91641667
1990 2.016175
1991 2.27910833
1992 2.45908333
1993 2.83008333
1994 3.01105521
1995 3.01129167
1996 3.19165
1997 3.44935
1998 3.800075
1999 4.13971667
2000 4.07733333
2001 4.20565
2002 4.737825
2003 4.55413333
2004 4.48198333
2005 4.4877
2006 4.45580833
2007 4.10808295
2008 3.58802119
2009 3.93233548
2010 3.738975
2011 3.57812931
2012 3.85592183
2013 3.61075833
2014 3.577925
2015 3.88683333
2016 3.84056667
2017 3.59955555
2018 3.59055813
2019 3.56452735
2020 3.44240585
2021 3.23019832
2022 3.3596144

Israel | 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
State of Israel
Records
63
Source