Mozambique | 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 Mozambique
Records
63
Source
Mozambique | Official exchange rate (LCU per US$, period average)
1960 0.02875
1961 0.02875
1962 0.02875
1963 0.02875
1964 0.02875
1965 0.02875
1966 0.02875
1967 0.02875
1968 0.02875
1969 0.02875
1970 0.02875
1971 0.02831208
1972 0.02705342
1973 0.02451517
1974 0.02540817
1975 0.02555275
1976 0.03022908
1977 0.03040725
1978 0.03
1979 0.03
1980 0.03240025
1981 0.0353495
1982 0.03776975
1983 0.04018333
1984 0.04244275
1985 0.04318067
1986 0.04042892
1987 0.29073125
1988 0.52464467
1989 0.74491808
1990 0.92908883
1991 1.4344675
1992 2.51655417
1993 3.87423667
1994 6.03858833
1995 9.02433333
1996 11.29375
1997 11.54358333
1998 11.87458333
1999 12.77511167
2000 15.22725
2001 20.70364083
2002 23.67795667
2003 23.7822675
2004 22.5813425
2005 23.060965
2006 25.40077917
2007 25.84034145
2008 24.30064247
2009 27.51829996
2010 33.9600988
2011 29.06759993
2012 28.37298448
2013 30.10411109
2014 31.3526877
2015 39.98247415
2016 63.05623273
2017 63.58432291
2018 60.32620764
2019 62.54833333
2020 69.465
2021 65.465
2022 63.85083333

Mozambique | 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 Mozambique
Records
63
Source