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Middle Eastern and North Africa Compared by Economy > Currency > PPP conversion factor to official exchange rate ratio

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.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH HISTORY
1 Kuwait 1.21 2005
2 United Arab Emirates 1.12 2005
3 Lebanon 1.1 2005
4 Bahrain 0.83 2005
5 Saudi Arabia 0.8 2005
6 Yemen 0.77 2005
7 Israel 0.69 2005
8 Oman 0.63 2004
9 Algeria 0.44 2005
10 Jordan 0.42 2005
11 Morocco 0.38 2005
12 Syria 0.36 2005
13 Iran 0.35 2005
14 Tunisia 0.34 2005
15 Egypt 0.28 2005

Citation

"Countries Compared by Economy > Currency > PPP conversion factor to official exchange rate ratio. International Statistics at NationMaster.com", World Development Indicators database. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/group-stats/Middle-Eastern-and-North-Africa/Economy/Currency/PPP-conversion-factor-to-official-exchange-rate-ratio

Middle Eastern and North Africa Compared by Economy > Currency > PPP conversion factor to official exchange rate ratio

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