Vanuatu | 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 Vanuatu
Records
63
Source
Vanuatu | Official exchange rate (LCU per US$, period average)
1960 89.76500009
1961 89.76500009
1962 89.76500009
1963 89.76500009
1964 89.76500009
1965 89.76500009
1966 89.76500009
1967 89.76500009
1968 89.76500009
1969 94.44000009
1970 100.9850001
1971 100.68945122
1972 81.61090909
1973 72.0447138
1974 77.80323232
1975 69.27259259
1976 77.23622896
1977 79.41131313
1978 72.9389899
1979 68.75824916
1980 68.29212121
1981 87.82592593
1982 96.2075
1983 99.36766199
1984 99.23333333
1985 106.03166667
1986 106.07583333
1987 109.84916667
1988 104.42583333
1989 116.04166667
1990 117.06125
1991 111.675
1992 113.39166667
1993 121.58083333
1994 116.405
1995 112.11166667
1996 111.71916667
1997 115.87333333
1998 127.5175
1999 129.075
2000 137.64333333
2001 145.3125
2002 139.19833333
2003 122.18916667
2004 111.79
2005 109.24583333
2006 110.64083333
2007 102.4375
2008 101.33416667
2009 106.74083333
2010 96.90583333
2011 89.46916667
2012 92.6375
2013 94.5425
2014 97.07166667
2015 108.98916667
2016 108.475
2017 107.82083333
2018 110.165
2019 114.7325
2020 115.38
2021 109.4525
2022 115.35391667

Vanuatu | 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 Vanuatu
Records
63
Source