Currency
kina
pound
DEFINITION:
A nation's primary official unit of currency
SOURCE:
Pacific Exchange Rate Services
DEC alternative conversion factor > LCU per US$
3.1
0.55
DEFINITION:
The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). Exceptions arise where further refinements are made by World Bank staff. It is expressed in local currency units per U.S. dollar.
SOURCE:
World Development Indicators database
ISO code
PGK 598
GBP 826
DEFINITION:
ISO is the International Standards Organisation ISO has specified 3 letter codes for most, if not all currencies in the world. Although the standard can be purchased from ISO's web site, the codes are often published by data vendors and in market literature.
SOURCE:
Pacific Exchange Rate Services
Official exchange rate > LCU per US$, period average
3.1
0.55
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:
World Development Indicators database
PPP conversion factor to official exchange rate ratio
0.33
1.1
DEFINITION:
Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amount of goods and services in the domestic market as a U.S. dollar would buy in the United States. 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). The ratio of the PPP conversion factor to the official exchange rate (also referred to as the national price level) makes it possible to compare the cost of the bundle of goods that make up gross domestic product (GDP) across countries. It tells how many dollars are needed to buy a dollar's worth of goods in the country as compared to the United States.
SOURCE:
World Development Indicators database
Ranked 107th in 2005.
Ranked 16th in 2005. 2 times more than Papua New Guinea
Real effective exchange rate index
100.95 %
101.3 %
DEFINITION:
Real effective exchange rate is the nominal effective exchange rate (a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs.
SOURCE:
World Development Indicators database
Ranked 55th in 2005.
Ranked 54th in 2005.
Regime
composite
float
SOURCE:
Pacific Exchange Rate Services
Subdivision
100
100
DEFINITION:
The unit, and the number of those units, into which a nation's primary official unit of currency is most commonly divided.
SOURCE:
Pacific Exchange Rate Services
Ranked 44th.
Ranked 42nd.
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