Côte d'Ivoire - Official exchange rate (LCU per US$, period average)

The value for Official exchange rate (LCU per US$, period average) in Côte d'Ivoire was 554.53 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 732.40 in 2001 and a minimum value of 211.28 in 1980.

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
1960 245.20
1961 245.26
1962 245.01
1963 245.02
1964 245.03
1965 245.06
1966 245.68
1967 246.00
1968 247.56
1969 259.96
1970 276.40
1971 275.36
1972 252.03
1973 222.89
1974 240.70
1975 214.31
1976 238.95
1977 245.68
1978 225.66
1979 212.72
1980 211.28
1981 271.73
1982 328.61
1983 381.07
1984 436.96
1985 449.26
1986 346.31
1987 300.54
1988 297.85
1989 319.01
1990 272.26
1991 282.11
1992 264.69
1993 283.16
1994 555.20
1995 499.15
1996 511.55
1997 583.67
1998 589.95
1999 615.47
2000 710.21
2001 732.40
2002 693.71
2003 579.90
2004 527.34
2005 527.26
2006 522.43
2007 478.63
2008 446.00
2009 470.29
2010 494.79
2011 471.25
2012 510.56
2013 493.90
2014 493.76
2015 591.21
2016 592.61
2017 580.66
2018 555.45
2019 585.91
2020 575.59
2021 554.53

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