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

The value for Official exchange rate (LCU per US$, period average) in Serbia was 99.40 as of 2021. As the graph below shows, over the past 24 years this indicator reached a maximum value of 111.28 in 2016 and a minimum value of 5.91 in 1997.

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
1997 5.91
1998 10.03
1999 11.66
2000 63.17
2001 66.91
2002 64.41
2003 57.59
2004 58.38
2005 66.72
2006 67.16
2007 58.45
2008 55.73
2009 67.60
2010 77.72
2011 73.36
2012 87.96
2013 85.16
2014 88.41
2015 108.81
2016 111.28
2017 107.76
2018 100.18
2019 105.25
2020 103.16
2021 99.40

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