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

The value for Official exchange rate (LCU per US$, period average) in Bahrain was 0.376 as of 2021. As the graph below shows, over the past 55 years this indicator reached a maximum value of 0.476 in 1970 and a minimum value of 0.376 in 1994.

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
1966 0.476
1967 0.476
1968 0.476
1969 0.476
1970 0.476
1971 0.475
1972 0.439
1973 0.400
1974 0.395
1975 0.396
1976 0.396
1977 0.396
1978 0.387
1979 0.382
1980 0.377
1981 0.376
1982 0.376
1983 0.376
1984 0.376
1985 0.376
1986 0.376
1987 0.376
1988 0.376
1989 0.376
1990 0.376
1991 0.376
1992 0.376
1993 0.376
1994 0.376
1995 0.376
1996 0.376
1997 0.376
1998 0.376
1999 0.376
2000 0.376
2001 0.376
2002 0.376
2003 0.376
2004 0.376
2005 0.376
2006 0.376
2007 0.376
2008 0.376
2009 0.376
2010 0.376
2011 0.376
2012 0.376
2013 0.376
2014 0.376
2015 0.376
2016 0.376
2017 0.376
2018 0.376
2019 0.376
2020 0.376
2021 0.376

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