DEC alternative conversion factor in Faroe Islands
Faroe Islands: DEC alternative conversion factor was 6.89 LCU per US$ in 2024. ▼ Falling
Latest (2024)
6.89 LCU per US$
Change on year
up 0.1%
World rank
116th
of 215 countries
All-time high
10.6 LCU per US$
in 1985
All-time low
5.1 LCU per US$
in 2008
Years of data
60
1965–2024
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$, in 2008.
Faroe Islands ranks 116th of 215 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 60 years of available data.
DEC alternative conversion factor in Faroe Islands, year by year
| Year | LCU per US$ | Change |
|---|---|---|
| 1965 | 6.91 LCU per US$ | — |
| 1966 | 6.91 LCU per US$ | +0.0% |
| 1967 | 6.96 LCU per US$ | +0.7% |
| 1968 | 7.5 LCU per US$ | +7.8% |
| 1969 | 7.5 LCU per US$ | +0.0% |
| 1970 | 7.5 LCU per US$ | +0.0% |
| 1971 | 7.42 LCU per US$ | -1.1% |
| 1972 | 6.95 LCU per US$ | -6.3% |
| 1973 | 6.05 LCU per US$ | -12.9% |
| 1974 | 6.09 LCU per US$ | +0.8% |
| 1975 | 5.75 LCU per US$ | -5.7% |
| 1976 | 6.05 LCU per US$ | +5.2% |
| 1977 | 6 LCU per US$ | -0.7% |
| 1978 | 5.51 LCU per US$ | -8.1% |
| 1979 | 5.26 LCU per US$ | -4.6% |
| 1980 | 5.64 LCU per US$ | +7.1% |
| 1981 | 7.12 LCU per US$ | +26.4% |
| 1982 | 8.33 LCU per US$ | +17.0% |
| 1983 | 9.14 LCU per US$ | +9.8% |
| 1984 | 10.36 LCU per US$ | +13.2% |
| 1985 | 10.6 LCU per US$ | +2.3% |
| 1986 | 8.09 LCU per US$ | -23.6% |
| 1987 | 6.84 LCU per US$ | -15.5% |
| 1988 | 6.73 LCU per US$ | -1.6% |
| 1989 | 7.31 LCU per US$ | +8.6% |
| 1990 | 6.19 LCU per US$ | -15.3% |
| 1991 | 6.4 LCU per US$ | +3.4% |
| 1992 | 6.04 LCU per US$ | -5.6% |
| 1993 | 6.48 LCU per US$ | +7.4% |
| 1994 | 6.36 LCU per US$ | -1.9% |
| 1995 | 5.6 LCU per US$ | -11.9% |
| 1996 | 5.8 LCU per US$ | +3.5% |
| 1997 | 6.6 LCU per US$ | +13.9% |
| 1998 | 6.7 LCU per US$ | +1.5% |
| 1999 | 6.98 LCU per US$ | +4.1% |
| 2000 | 8.08 LCU per US$ | +15.9% |
| 2001 | 8.32 LCU per US$ | +3.0% |
| 2002 | 7.89 LCU per US$ | -5.1% |
| 2003 | 6.59 LCU per US$ | -16.6% |
| 2004 | 5.99 LCU per US$ | -9.1% |
| 2005 | 6 LCU per US$ | +0.1% |
| 2006 | 5.95 LCU per US$ | -0.8% |
| 2007 | 5.44 LCU per US$ | -8.5% |
| 2008 | 5.1 LCU per US$ | -6.3% |
| 2009 | 5.36 LCU per US$ | +5.2% |
| 2010 | 5.62 LCU per US$ | +4.9% |
| 2011 | 5.37 LCU per US$ | -4.5% |
| 2012 | 5.79 LCU per US$ | +7.9% |
| 2013 | 5.62 LCU per US$ | -3.0% |
| 2014 | 5.61 LCU per US$ | -0.1% |
| 2015 | 6.73 LCU per US$ | +19.9% |
| 2016 | 6.73 LCU per US$ | +0.1% |
| 2017 | 6.6 LCU per US$ | -1.9% |
| 2018 | 6.31 LCU per US$ | -4.4% |
| 2019 | 6.67 LCU per US$ | +5.6% |
| 2020 | 6.54 LCU per US$ | -1.9% |
| 2021 | 6.29 LCU per US$ | -3.9% |
| 2022 | 7.08 LCU per US$ | +12.6% |
| 2023 | 6.89 LCU per US$ | -2.6% |
| 2024 | 6.89 LCU per US$ | +0.1% |
Faroe Islands compared with similar countries
- Faroe Islands's 6.89 LCU per US$ is above the median for high income countries, which is 1 LCU per US$, 6.9× the median. (83 countries reporting)
- Faroe Islands's 6.89 LCU per US$ is above the median for Europe & Central Asia, which is 0.8861 LCU per US$, 7.8× the median. (56 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 7.15 LCU per US$ | 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
- Exports of goods and services (current US$), per unit of GDP 0.5456 current US$ per US$ of GDP (2024)
- Gross capital formation (current US$), annual growth rate -7.73 % change on previous year (2024)
- Exports of goods and services (current LCU), per capita 279,001 current LCU per person (2024)
- Exports of goods and services (current LCU), per unit of GDP 3.76 current LCU per US$ of GDP (2024)
- Exports of goods and services (current LCU), annual growth rate -1.89 % change on previous year (2024)
- Exports of goods and services (current US$), per capita 40,467 current US$ per person (2024)
- Gross national expenditure (current LCU), per capita 494,217 current LCU per person (2024)
- Gross national expenditure (current LCU), annual growth rate 0.4583 % change on previous year (2024)
- Gross national expenditure (current LCU), per unit of GDP 6.66 current LCU per US$ of GDP (2024)
- Gross capital formation (current US$), per unit of GDP 0.2817 current US$ per US$ of GDP (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 215 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.