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

The value for Official exchange rate (LCU per US$, period average) in Portugal was 0.85 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 180.10 in 1998 and a minimum value of 0.68 in 2008.

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 28.75
1961 28.75
1962 28.75
1963 28.75
1964 28.75
1965 28.75
1966 28.75
1967 28.75
1968 28.75
1969 28.75
1970 28.75
1971 28.36
1972 27.05
1973 24.52
1974 25.41
1975 25.55
1976 30.23
1977 38.28
1978 43.94
1979 48.92
1980 50.06
1981 61.55
1982 79.47
1983 110.78
1984 146.39
1985 170.39
1986 149.59
1987 140.88
1988 143.95
1989 157.46
1990 142.55
1991 144.48
1992 135.00
1993 160.80
1994 165.99
1995 151.11
1996 154.24
1997 175.31
1998 180.10
1999 0.94
2000 1.08
2001 1.12
2002 1.06
2003 0.88
2004 0.80
2005 0.80
2006 0.80
2007 0.73
2008 0.68
2009 0.72
2010 0.75
2011 0.72
2012 0.78
2013 0.75
2014 0.75
2015 0.90
2016 0.90
2017 0.89
2018 0.85
2019 0.89
2020 0.88
2021 0.85

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