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

The value for Official exchange rate (LCU per US$, period average) in Spain was 0.85 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 170.04 in 1985 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 60.00
1961 60.00
1962 60.00
1963 60.00
1964 60.00
1965 60.00
1966 60.00
1967 61.67
1968 70.00
1969 70.00
1970 70.00
1971 69.47
1972 64.27
1973 58.26
1974 57.69
1975 57.41
1976 66.90
1977 75.96
1978 76.67
1979 67.13
1980 71.70
1981 92.32
1982 109.86
1983 143.43
1984 160.76
1985 170.04
1986 140.05
1987 123.48
1988 116.49
1989 118.38
1990 101.93
1991 103.91
1992 102.38
1993 127.26
1994 133.96
1995 124.69
1996 126.66
1997 146.41
1998 149.40
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