DEC alternative conversion factor in Faroe Islands
Faroe Islands: DEC alternative conversion factor was 6.89 LCU per US$ in 2024. ▼ Falling
DEC alternative conversion factor in Faroe Islands, 1965–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in LCU per US$.
Analysis
In 2024, dec alternative conversion factor in Faroe Islands stood at 6.89 LCU per US$.
That represents a change of up 0.1% on the previous year and up 22.8% over ten years.
Over the whole period, dec alternative conversion factor in Faroe Islands peaked at 10.6 LCU per US$ in 1985 and was at its lowest, 5.1 LCU per US$, in 2008.
Faroe Islands ranks 116th of 214 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 60 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 7.15 LCU per US$ | 6.91 LCU per US$ | 7.5 LCU per US$ | 5 |
| 1970s | 6.26 LCU per US$ | 5.26 LCU per US$ | 7.5 LCU per US$ | 10 |
| 1980s | 8.02 LCU per US$ | 5.64 LCU per US$ | 10.6 LCU per US$ | 10 |
| 1990s | 6.31 LCU per US$ | 5.6 LCU per US$ | 6.98 LCU per US$ | 10 |
| 2000s | 6.47 LCU per US$ | 5.1 LCU per US$ | 8.32 LCU per US$ | 10 |
| 2010s | 6.11 LCU per US$ | 5.37 LCU per US$ | 6.73 LCU per US$ | 10 |
| 2020s | 6.74 LCU per US$ | 6.29 LCU per US$ | 7.08 LCU per US$ | 5 |
Countries ranked near Faroe Islands
More economy & growth data for Faroe Islands
- Imports of goods and services 2.07 billion current US$ (2024)
- Exports of goods and services 54.6% (2024)
- Gross capital formation 1.14 billion current US$ (2024)
- Gross capital formation 7.87 billion current LCU (2024)
- Gross capital formation 28.2% (2024)
- Imports of goods and services 51.2% (2024)
- External balance on goods and services 938.80 million current LCU (2024)
- External balance on goods and services 136.17 million current US$ (2024)
- Exports of goods and services 15.24 billion current LCU (2024)
- Imports of goods and services 14.31 billion current LCU (2024)
Frequently asked questions
- What is dec alternative conversion factor in Faroe Islands?
- Dec alternative conversion factor in Faroe Islands was 6.89 LCU per US$ in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest dec alternative conversion factor recorded in Faroe Islands?
- The highest recorded value was 10.6 LCU per US$ in 1985.
- What is the lowest dec alternative conversion factor recorded in Faroe Islands?
- The lowest recorded value was 5.1 LCU per US$ in 2008.
- How does Faroe Islands rank for dec alternative conversion factor?
- Faroe Islands ranks 116th out of 214 countries with data for 2024.
- Is dec alternative conversion factor rising or falling in Faroe Islands?
- Over the last ten years it is up 22.8%. The long-run trend across the full record is falling.
- Where does this Faroe Islands data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of DEC alternative conversion factor (LCU per US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The DEC alternative conversion factor is the underlying annual exchange rate (the price of one country’s currency in relation to another country's currency) used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics. Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar.