Thailand | 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
Kingdom of Thailand
Records
63
Source
Thailand | Official exchange rate (LCU per US$, period average)
1960 21.18177353
1961 21.05843958
1962 20.88010535
1963 20.83007886
1964 20.80000002
1965 20.80000002
1966 20.80000002
1967 20.80000002
1968 20.80000002
1969 20.80000002
1970 20.80000002
1971 20.80000002
1972 20.80002949
1973 20.61958164
1974 20.3751028
1975 20.37926949
1976 20.40010292
1977 20.40010292
1978 20.3361026
1979 20.41893635
1980 20.47635331
1981 21.82044342
1982 23.00011604
1983 23.00011604
1984 23.63936927
1985 27.15888702
1986 26.29888269
1987 25.72279645
1988 25.29387761
1989 25.70204634
1990 25.58546242
1991 25.51679541
1992 25.40012815
1993 25.31961108
1994 25.14995189
1995 24.9151757
1996 25.34268286
1997 31.36433445
1998 41.3593875
1999 37.81365583
2000 40.11180333
2001 44.4319
2002 42.96008333
2003 41.48461667
2004 40.22241492
2005 40.22013021
2006 37.88198322
2007 34.51818059
2008 33.31330064
2009 34.28577412
2010 31.685705
2011 30.49173333
2012 31.08309167
2013 30.72596667
2014 32.47983333
2015 34.24771667
2016 35.29638333
2017 33.93981106
2018 32.31022574
2019 31.04760578
2020 31.29367321
2021 31.97709344
2022 35.06135021

Thailand | 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
Kingdom of Thailand
Records
63
Source