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

The value for Official exchange rate (LCU per US$, period average) in Rwanda was 988.62 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 988.62 in 2021 and a minimum value of 50.00 in 1960.

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 50.00
1961 50.00
1962 50.00
1963 50.00
1964 50.00
1965 50.00
1966 87.50
1967 100.00
1968 100.00
1969 100.00
1970 100.00
1971 99.71
1972 92.11
1973 83.92
1974 92.30
1975 92.28
1976 97.01
1977 95.94
1978 89.49
1979 86.69
1980 86.06
1981 87.16
1982 93.06
1983 96.09
1984 100.23
1985 101.24
1986 87.59
1987 79.46
1988 76.45
1989 80.15
1990 83.70
1991 125.16
1992 133.94
1993 144.24
1994 140.70
1995 262.18
1996 306.82
1997 301.53
1998 312.31
1999 333.94
2000 389.70
2001 442.99
2002 475.37
2003 537.66
2004 577.45
2005 557.82
2006 551.71
2007 546.96
2008 546.85
2009 568.28
2010 583.13
2011 600.31
2012 614.30
2013 646.64
2014 682.44
2015 719.86
2016 787.25
2017 831.55
2018 861.09
2019 899.35
2020 943.28
2021 988.62

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