Latin America and Caribbean 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.

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#	COUNTRY	AMOUNT	DATE
1	The Bahamas	1.02	2002
2	Jamaica	0.84	2005
3	Antigua and Barbuda	0.83	2004
4	Venezuela	0.8	2005
5	Trinidad and Tobago	0.75	2005
6	Saint Lucia	0.72	2004
7	Mexico	0.69	2005
8	Saint Kitts and Nevis	0.67	2004
9	Ecuador	0.64	2005
10	Panama	0.63	2005
11	Dominica	0.61	2004
12	Chile	0.59	2005
=13	Saint Vincent and the Grenadines	0.55	2005
=13	Guatemala	0.55	2005
15	Grenada	0.54	2004
16	Belize	0.53	2005
17	Brazil	0.51	2005
18	Uruguay	0.49	2005
=19	El Salvador	0.47	2005
=19	Peru	0.47	2005
21	Costa Rica	0.45	2005
22	Dominican Republic	0.4	2005
23	Suriname	0.39	2005
24	Colombia	0.37	2005
25	Bolivia	0.36	2005
26	Honduras	0.34	2005
27	Argentina	0.33	2005
28	Haiti	0.3	2005
29	Paraguay	0.26	2005
30	Nicaragua	0.24	2005
31	Guyana	0.23	2005

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