Albania - Official exchange rate (LCU per US$, period average)

The value for Official exchange rate (LCU per US$, period average) in Albania was 103.52 as of 2021. As the graph below shows, over the past 29 years this indicator reached a maximum value of 150.63 in 1998 and a minimum value of 75.03 in 1992.

Definition: 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).

Source: International Monetary Fund, International Financial Statistics.

See also:

Year Value
1992 75.03
1993 102.06
1994 94.62
1995 92.70
1996 104.50
1997 148.93
1998 150.63
1999 137.69
2000 143.71
2001 143.48
2002 140.15
2003 121.86
2004 102.78
2005 99.87
2006 98.10
2007 90.43
2008 83.89
2009 94.98
2010 103.94
2011 100.90
2012 108.18
2013 105.67
2014 105.48
2015 125.96
2016 124.14
2017 119.10
2018 107.99
2019 109.85
2020 108.65
2021 103.52

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.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices