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

The value for Official exchange rate (LCU per US$, period average) in Cabo Verde was 96.80 as of 2020. As the graph below shows, over the past 60 years this indicator reached a maximum value of 123.21 in 2001 and a minimum value of 24.52 in 1973.

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 28.75
1961 28.75
1962 28.75
1963 28.75
1964 28.75
1965 28.75
1966 28.75
1967 28.75
1968 28.75
1969 28.75
1970 28.75
1971 28.36
1972 27.05
1973 24.52
1974 25.41
1975 25.54
1976 30.23
1977 34.05
1978 35.50
1979 37.43
1980 40.17
1981 48.69
1982 58.29
1983 71.69
1984 84.88
1985 91.63
1986 80.14
1987 72.47
1988 72.07
1989 77.98
1990 70.03
1991 71.41
1992 68.02
1993 80.43
1994 81.89
1995 76.85
1996 82.59
1997 93.18
1998 98.16
1999 102.70
2000 115.88
2001 123.21
2002 117.26
2003 97.79
2004 88.75
2005 88.65
2006 87.93
2007 80.62
2008 75.34
2009 80.04
2010 83.28
2011 79.28
2012 86.32
2013 83.07
2014 83.03
2015 99.39
2016 99.69
2017 97.81
2018 93.41
2019 98.50
2020 96.80

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