Korea - DEC alternative conversion factor (LCU per US$)
DEC alternative conversion factor (LCU per US$) in Korea was 1,180.27 as of 2020. Its highest value over the past 60 years was 1,401.44 in 1998, while its lowest value was 63.12 in 1960.
Definition: The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar.
Source: International Monetary Fund, International Financial Statistics, supplemented by World Bank staff estimates.
See also:
| Year | Value |
|---|---|
| 1960 | 63.12 |
| 1961 | 124.79 |
| 1962 | 130.00 |
| 1963 | 130.00 |
| 1964 | 213.85 |
| 1965 | 266.40 |
| 1966 | 271.34 |
| 1967 | 270.52 |
| 1968 | 276.65 |
| 1969 | 288.16 |
| 1970 | 310.56 |
| 1971 | 347.15 |
| 1972 | 392.89 |
| 1973 | 398.32 |
| 1974 | 404.47 |
| 1975 | 484.00 |
| 1976 | 484.00 |
| 1977 | 484.00 |
| 1978 | 484.00 |
| 1979 | 484.00 |
| 1980 | 607.43 |
| 1981 | 681.03 |
| 1982 | 731.08 |
| 1983 | 775.75 |
| 1984 | 805.98 |
| 1985 | 870.02 |
| 1986 | 881.45 |
| 1987 | 822.57 |
| 1988 | 731.47 |
| 1989 | 671.46 |
| 1990 | 707.76 |
| 1991 | 733.35 |
| 1992 | 780.65 |
| 1993 | 802.67 |
| 1994 | 803.45 |
| 1995 | 771.27 |
| 1996 | 804.45 |
| 1997 | 951.29 |
| 1998 | 1,401.44 |
| 1999 | 1,188.82 |
| 2000 | 1,130.96 |
| 2001 | 1,290.99 |
| 2002 | 1,251.09 |
| 2003 | 1,191.61 |
| 2004 | 1,145.32 |
| 2005 | 1,024.12 |
| 2006 | 954.79 |
| 2007 | 929.26 |
| 2008 | 1,102.05 |
| 2009 | 1,276.93 |
| 2010 | 1,156.06 |
| 2011 | 1,108.29 |
| 2012 | 1,126.47 |
| 2013 | 1,094.85 |
| 2014 | 1,052.96 |
| 2015 | 1,131.16 |
| 2016 | 1,160.43 |
| 2017 | 1,130.43 |
| 2018 | 1,100.50 |
| 2019 | 1,165.36 |
| 2020 | 1,180.27 |
Statistical Concept and Methodology: The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. An alternative conversion factor is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.
Periodicity: Annual
General Comments: In the WDI database, the DEC alternative conversion factor is used to convert data in local currency units (LCU) into U.S. dollars.
Classification
Topic: Financial Sector Indicators
Sub-Topic: Exchange rates & prices
