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

The value for Official exchange rate (LCU per US$, period average) in Madagascar was 3,829.98 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 3,829.98 in 2021 and a minimum value of 42.26 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 49.37
1961 49.37
1962 49.37
1963 49.37
1964 49.37
1965 49.37
1966 49.37
1967 49.37
1968 49.37
1969 51.94
1970 55.54
1971 55.43
1972 50.41
1973 44.58
1974 48.14
1975 42.86
1976 47.79
1977 49.14
1978 45.13
1979 42.54
1980 42.26
1981 54.35
1982 69.95
1983 86.09
1984 115.33
1985 132.50
1986 135.27
1987 213.84
1988 281.42
1989 320.69
1990 298.83
1991 367.07
1992 372.79
1993 382.76
1994 613.47
1995 853.13
1996 812.25
1997 1,018.18
1998 1,088.28
1999 1,256.76
2000 1,353.50
2001 1,317.70
2002 1,366.39
2003 1,238.33
2004 1,868.86
2005 2,003.03
2006 2,142.30
2007 1,873.88
2008 1,708.37
2009 1,956.21
2010 2,089.95
2011 2,025.12
2012 2,194.97
2013 2,206.91
2014 2,414.81
2015 2,933.51
2016 3,176.54
2017 3,116.11
2018 3,334.75
2019 3,618.32
2020 3,787.75
2021 3,829.98

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