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

The value for Official exchange rate (LCU per US$, period average) in Guyana was 208.50 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 208.50 in 2021 and a minimum value of 1.71 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 1.71
1961 1.71
1962 1.71
1963 1.71
1964 1.71
1965 1.71
1966 1.71
1967 1.74
1968 2.00
1969 2.00
1970 2.00
1971 1.99
1972 2.09
1973 2.11
1974 2.23
1975 2.36
1976 2.55
1977 2.55
1978 2.55
1979 2.55
1980 2.55
1981 2.81
1982 3.00
1983 3.00
1984 3.83
1985 4.25
1986 4.27
1987 9.76
1988 10.00
1989 27.16
1990 39.53
1991 111.81
1992 125.00
1993 126.73
1994 138.29
1995 141.99
1996 140.38
1997 142.40
1998 150.52
1999 178.00
2000 182.43
2001 187.32
2002 190.67
2003 193.88
2004 198.31
2005 199.88
2006 200.19
2007 202.35
2008 203.63
2009 203.95
2010 203.64
2011 204.02
2012 204.36
2013 205.39
2014 206.45
2015 206.50
2016 206.50
2017 206.50
2018 207.72
2019 208.50
2020 208.50
2021 208.50

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