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

The value for Official exchange rate (LCU per US$, period average) in Chile was 758.96 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 792.73 in 2020 and a minimum value of 0.00 in 1960.

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 0.00
1961 0.00
1962 0.00
1963 0.00
1964 0.00
1965 0.00
1966 0.00
1967 0.01
1968 0.01
1969 0.01
1970 0.01
1971 0.01
1972 0.02
1973 0.07
1974 0.59
1975 4.91
1976 13.05
1977 21.54
1978 31.66
1979 37.25
1980 39.00
1981 39.00
1982 50.91
1983 78.79
1984 98.48
1985 160.86
1986 192.93
1987 219.41
1988 245.01
1989 266.95
1990 304.90
1991 349.22
1992 362.58
1993 404.17
1994 420.18
1995 396.77
1996 412.27
1997 419.30
1998 460.29
1999 508.78
2000 539.59
2001 634.94
2002 688.94
2003 691.40
2004 609.53
2005 559.77
2006 530.28
2007 522.46
2008 522.46
2009 560.86
2010 510.25
2011 483.67
2012 486.47
2013 495.27
2014 570.35
2015 654.12
2016 676.96
2017 648.83
2018 641.28
2019 702.90
2020 792.73
2021 758.96

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