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

The value for Official exchange rate (LCU per US$, period average) in Armenia was 503.77 as of 2021. As the graph below shows, over the past 28 years this indicator reached a maximum value of 578.76 in 2003 and a minimum value of 9.11 in 1993.

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
1993 9.11
1994 288.65
1995 405.91
1996 414.04
1997 490.85
1998 504.92
1999 535.06
2000 539.53
2001 555.08
2002 573.35
2003 578.76
2004 533.45
2005 457.69
2006 416.04
2007 342.08
2008 305.97
2009 363.28
2010 373.66
2011 372.50
2012 401.76
2013 409.63
2014 415.92
2015 477.92
2016 480.49
2017 482.72
2018 482.99
2019 480.45
2020 489.01
2021 503.77

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