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

The value for Official exchange rate (LCU per US$, period average) in Austria was 0.85 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 26.00 in 1970 and a minimum value of 0.68 in 2008.

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 26.00
1961 26.00
1962 26.00
1963 26.00
1964 26.00
1965 26.00
1966 26.00
1967 26.00
1968 26.00
1969 26.00
1970 26.00
1971 24.99
1972 23.12
1973 19.58
1974 18.69
1975 17.42
1976 17.94
1977 16.53
1978 14.52
1979 13.37
1980 12.94
1981 15.93
1982 17.06
1983 17.96
1984 20.01
1985 20.69
1986 15.27
1987 12.64
1988 12.35
1989 13.23
1990 11.37
1991 11.68
1992 10.99
1993 11.63
1994 11.42
1995 10.08
1996 10.59
1997 12.20
1998 12.38
1999 0.94
2000 1.08
2001 1.12
2002 1.06
2003 0.88
2004 0.80
2005 0.80
2006 0.80
2007 0.73
2008 0.68
2009 0.72
2010 0.75
2011 0.72
2012 0.78
2013 0.75
2014 0.75
2015 0.90
2016 0.90
2017 0.89
2018 0.85
2019 0.89
2020 0.88
2021 0.85

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