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

The value for Official exchange rate (LCU per US$, period average) in Czech Republic was 21.68 as of 2021. As the graph below shows, over the past 28 years this indicator reached a maximum value of 38.60 in 2000 and a minimum value of 17.07 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
1993 29.15
1994 28.79
1995 26.54
1996 27.14
1997 31.70
1998 32.28
1999 34.57
2000 38.60
2001 38.04
2002 32.74
2003 28.21
2004 25.70
2005 23.96
2006 22.60
2007 20.29
2008 17.07
2009 19.06
2010 19.10
2011 17.70
2012 19.58
2013 19.57
2014 20.76
2015 24.60
2016 24.44
2017 23.38
2018 21.73
2019 22.93
2020 23.21
2021 21.68

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