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

The value for Official exchange rate (LCU per US$, period average) in Sri Lanka was 185.59 as of 2020. As the graph below shows, over the past 60 years this indicator reached a maximum value of 185.59 in 2020 and a minimum value of 4.76 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 4.76
1961 4.76
1962 4.76
1963 4.76
1964 4.76
1965 4.76
1966 4.76
1967 4.86
1968 5.95
1969 5.95
1970 5.95
1971 5.93
1972 5.97
1973 6.40
1974 6.65
1975 7.01
1976 8.41
1977 8.87
1978 15.61
1979 15.57
1980 16.53
1981 19.25
1982 20.81
1983 23.53
1984 25.44
1985 27.16
1986 28.02
1987 29.44
1988 31.81
1989 36.05
1990 40.06
1991 41.37
1992 43.83
1993 48.32
1994 49.42
1995 51.25
1996 55.27
1997 58.99
1998 64.45
1999 70.64
2000 77.01
2001 89.38
2002 95.66
2003 96.52
2004 101.19
2005 100.50
2006 103.91
2007 110.62
2008 108.33
2009 114.94
2010 113.06
2011 110.57
2012 127.60
2013 129.07
2014 130.56
2015 135.86
2016 145.58
2017 152.45
2018 162.46
2019 178.74
2020 185.59

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