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

The value for Official exchange rate (LCU per US$, period average) in Dominican Republic was 57.22 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 57.22 in 2021 and a minimum value of 1.00 in 1960.

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 1.00
1961 1.00
1962 1.00
1963 1.00
1964 1.00
1965 1.00
1966 1.00
1967 1.00
1968 1.00
1969 1.00
1970 1.00
1971 1.00
1972 1.00
1973 1.00
1974 1.00
1975 1.00
1976 1.00
1977 1.00
1978 1.00
1979 1.00
1980 1.00
1981 1.00
1982 1.00
1983 1.00
1984 1.00
1985 3.11
1986 2.90
1987 3.84
1988 6.11
1989 6.34
1990 8.53
1991 12.58
1992 12.50
1993 12.50
1994 12.62
1995 12.87
1996 12.90
1997 14.01
1998 14.70
1999 15.83
2000 16.18
2001 16.69
2002 17.59
2003 29.37
2004 41.93
2005 30.28
2006 33.30
2007 33.17
2008 34.53
2009 35.97
2010 36.82
2011 38.09
2012 39.32
2013 41.79
2014 43.55
2015 45.05
2016 46.06
2017 47.53
2018 49.51
2019 51.29
2020 56.52
2021 57.22

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