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

The value for Official exchange rate (LCU per US$, period average) in Malta was 0.845 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 0.903 in 2016 and a minimum value of 0.312 in 2007.

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 0.362
1968 0.417
1969 0.417
1970 0.417
1971 0.407
1972 0.382
1973 0.369
1974 0.385
1975 0.385
1976 0.425
1977 0.422
1978 0.385
1979 0.358
1980 0.345
1981 0.387
1982 0.412
1983 0.432
1984 0.461
1985 0.469
1986 0.393
1987 0.345
1988 0.331
1989 0.348
1990 0.318
1991 0.323
1992 0.319
1993 0.382
1994 0.378
1995 0.353
1996 0.360
1997 0.386
1998 0.388
1999 0.399
2000 0.438
2001 0.450
2002 0.434
2003 0.377
2004 0.345
2005 0.346
2006 0.341
2007 0.312
2008 0.680
2009 0.717
2010 0.754
2011 0.718
2012 0.778
2013 0.753
2014 0.753
2015 0.901
2016 0.903
2017 0.885
2018 0.847
2019 0.893
2020 0.876
2021 0.845

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