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

The value for Official exchange rate (LCU per US$, period average) in Vanuatu was 115.38 as of 2020. As the graph below shows, over the past 60 years this indicator reached a maximum value of 145.31 in 2001 and a minimum value of 68.29 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 89.77
1961 89.77
1962 89.77
1963 89.77
1964 89.77
1965 89.77
1966 89.77
1967 89.77
1968 89.77
1969 94.44
1970 100.99
1971 100.69
1972 81.61
1973 72.04
1974 77.80
1975 69.27
1976 77.24
1977 79.41
1978 72.94
1979 68.76
1980 68.29
1981 87.83
1982 96.21
1983 99.37
1984 99.23
1985 106.03
1986 106.08
1987 109.85
1988 104.43
1989 116.04
1990 117.06
1991 111.68
1992 113.39
1993 121.58
1994 116.41
1995 112.11
1996 111.72
1997 115.87
1998 127.52
1999 129.08
2000 137.64
2001 145.31
2002 139.20
2003 122.19
2004 111.79
2005 109.25
2006 110.64
2007 102.44
2008 101.33
2009 106.74
2010 96.91
2011 89.47
2012 92.64
2013 94.54
2014 97.07
2015 108.99
2016 108.48
2017 107.82
2018 110.17
2019 114.73
2020 115.38

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