Faroe Islands: DEC alternative conversion factor (LCU per US$)

Key figures

What the numbers say

In 2024, Faroe Islands' DEC alternative conversion factor (LCU per US$) rose US$0.00478 on 2023 (from US$6.89 to US$6.89).

Across the 30 yearly changes before that (1994 to 2023), the average change was +US$0.01 and a typical year strayed about US$0.52 from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was US$1.49 in 1981 and the biggest yearly fall was US$2.51 in 1986. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 12% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

Closest to Faroe Islands in the 2024 ranking

• United Arab Emirates — 2nd of 6: US$3.67
• American Samoa — 3rd of 6: US$1
• Guam — 4th of 6: US$1

What this measures

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.

All 60 values

DEC alternative conversion factor (LCU per US$) in nearby economies

• Albania — US$86.8 (2025)
• Andorra — US$0.88 (2025)
• Armenia — US$387.01 (2025)
• Austria — US$0.88 (2025)
• Azerbaijan — US$1.7 (2025)
• Belarus — US$3.07 (2025)
• Belgium — US$0.88 (2025)
• Bosnia and Herzegovina — US$1.73 (2025)
• Bulgaria — US$0.89 (2025)
• Channel Islands

More financial sector data for Faroe Islands

• Official exchange rate (LCU per US$, period average) — US$6.62 (2025)
• GDP deflator (base year varies by country) — 135.45 (2024)
• GDP deflator, linked series (base year varies by country) — 135.45 (2024)
• Inflation, GDP deflator (annual % growth) — 2% (2024)
• Inflation, GDP deflator, linked series (annual % growth) — 2% (2024)

Every indicator for Faroe Islands is on the Faroe Islands data page.

Reading data like this

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Questions people ask

What is Faroe Islands's DEC alternative conversion factor (LCU per US$)?

US$6.89 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1965?

It is down 0.18% from US$6.91 in 1965. The highest value was US$10.6 in 1985 and the lowest US$5.1 in 2008.

Is the latest change in DEC alternative conversion factor (LCU per US$) unusual for Faroe Islands?

In 2024, Faroe Islands' DEC alternative conversion factor (LCU per US$) rose US$0.00478 on 2023 (from US$6.89 to US$6.89). Across the 30 yearly changes before that (1994 to 2023), the average change was +US$0.01 and a typical year strayed about US$0.52 from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); Staff estimates, World Bank (WB).

Source

World Bank, World Development Indicators, indicator PA.NUS.ATLS, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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