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

The value for Official exchange rate (LCU per US$, period average) in Jordan was 0.710 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 0.710 in 2021 and a minimum value of 0.298 in 1980.

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 0.357
1961 0.357
1962 0.357
1963 0.357
1964 0.357
1965 0.357
1966 0.357
1967 0.357
1968 0.357
1969 0.357
1970 0.357
1971 0.357
1972 0.357
1973 0.329
1974 0.322
1975 0.320
1976 0.332
1977 0.329
1978 0.306
1979 0.300
1980 0.298
1981 0.330
1982 0.352
1983 0.363
1984 0.384
1985 0.395
1986 0.350
1987 0.338
1988 0.374
1989 0.575
1990 0.664
1991 0.681
1992 0.680
1993 0.693
1994 0.699
1995 0.700
1996 0.709
1997 0.709
1998 0.709
1999 0.709
2000 0.709
2001 0.709
2002 0.709
2003 0.709
2004 0.709
2005 0.709
2006 0.709
2007 0.709
2008 0.710
2009 0.710
2010 0.710
2011 0.710
2012 0.710
2013 0.710
2014 0.710
2015 0.710
2016 0.710
2017 0.710
2018 0.710
2019 0.710
2020 0.710
2021 0.710

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