Eritrea - DEC alternative conversion factor (LCU per US$)

DEC alternative conversion factor (LCU per US$) in Eritrea was 15.08 as of 2020. Its highest value over the past 28 years was 15.38 in 2015, while its lowest value was 4.58 in 1992.

Definition: The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar.

Source: International Monetary Fund, International Financial Statistics, supplemented by World Bank staff estimates.

See also:

Year Value
1992 4.58
1993 5.23
1994 6.16
1995 6.40
1996 6.36
1997 7.20
1998 7.36
1999 8.15
2000 9.63
2001 11.31
2002 13.96
2003 13.88
2004 13.79
2005 15.37
2006 15.38
2007 15.38
2008 15.38
2009 15.38
2010 15.38
2011 15.38
2012 15.38
2013 15.38
2014 15.38
2015 15.38
2016 15.35
2017 15.08
2018 15.08
2019 15.08
2020 15.08

Statistical Concept and Methodology: The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. An alternative conversion factor is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.

Periodicity: Annual

General Comments: In the WDI database, the DEC alternative conversion factor is used to convert data in local currency units (LCU) into U.S. dollars.

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices