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

The value for Official exchange rate (LCU per US$, period average) in New Caledonia was 100.88 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 163.37 in 1985 and a minimum value of 76.83 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 89.77
1961 89.77
1962 89.77
1963 89.77
1964 89.77
1965 89.77
1966 89.77
1967 89.77
1968 89.77
1969 94.44
1970 100.99
1971 100.69
1972 91.65
1973 81.05
1974 87.53
1975 77.93
1976 86.89
1977 89.34
1978 82.06
1979 77.35
1980 76.83
1981 98.81
1982 119.49
1983 138.57
1984 158.89
1985 163.37
1986 125.93
1987 109.29
1988 108.31
1989 116.00
1990 99.00
1991 102.58
1992 96.25
1993 102.97
1994 100.95
1995 90.75
1996 93.01
1997 106.12
1998 107.26
1999 111.97
2000 129.20
2001 133.24
2002 126.20
2003 105.49
2004 95.93
2005 95.92
2006 95.04
2007 87.07
2008 81.14
2009 85.56
2010 90.01
2011 85.73
2012 92.88
2013 89.85
2014 89.82
2015 107.55
2016 107.81
2017 105.63
2018 101.05
2019 106.59
2020 104.71
2021 100.88

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