Kuwait - DEC alternative conversion factor (LCU per US$)

DEC alternative conversion factor (LCU per US$) in Kuwait was 0.306 as of 2020. Its highest value over the past 60 years was 0.357 in 1964, while its lowest value was 0.269 in 2008.

Definition: The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar.

Source: International Monetary Fund, International Financial Statistics, supplemented by World Bank staff estimates.

See also:

Year Value
1960 0.357
1961 0.357
1962 0.357
1963 0.357
1964 0.357
1965 0.357
1966 0.357
1967 0.357
1968 0.357
1969 0.357
1970 0.357
1971 0.356
1972 0.329
1973 0.297
1974 0.293
1975 0.290
1976 0.292
1977 0.287
1978 0.275
1979 0.276
1980 0.270
1981 0.279
1982 0.288
1983 0.292
1984 0.296
1985 0.301
1986 0.291
1987 0.279
1988 0.279
1989 0.294
1990 0.288
1991 0.284
1992 0.293
1993 0.302
1994 0.297
1995 0.298
1996 0.299
1997 0.303
1998 0.305
1999 0.304
2000 0.307
2001 0.307
2002 0.304
2003 0.298
2004 0.295
2005 0.292
2006 0.290
2007 0.284
2008 0.269
2009 0.288
2010 0.287
2011 0.276
2012 0.280
2013 0.284
2014 0.285
2015 0.301
2016 0.302
2017 0.303
2018 0.302
2019 0.304
2020 0.306

Statistical Concept and Methodology: The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. An alternative conversion factor is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.

Periodicity: Annual

General Comments: In the WDI database, the DEC alternative conversion factor is used to convert data in local currency units (LCU) into U.S. dollars.

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices