Consumption Tax Trends 2020

Annex B. Exchange rates

 

Country	Currency	PPP exchange rate for GDP 20191	Market exchange rate for 2019²
Australia	AUD	1.44	1.44
Austria	EUR	0.76	0.89
Belgium	EUR	0.76	0.89
Canada	CAD	1.19	1.33
Chile	CLP	416.25	702.90
Colombia	COP	1 349.01	3 280.83
Czech Republic	CZK	12.44	22.93
Denmark	DKK	6.67	6.67
Estonia	EUR	0.54	0.89
Finland	EUR	0.85	0.89
France	EUR	0.73	0.89
Germany	EUR	0.74	0.89
Greece	EUR	0.56	0.89
Hungary	HUF	140.94	290.66
Iceland	ISK	136.66	122.61
Ireland	EUR	0.80	0.89
Israel	ILS	3.69	3.56
Italy	EUR	0.67	0.89
Japan	JPY	101.47	109.01
Korea	KRW	860.21	1 165.50
Latvia	EUR	0.49	0.89
Lithuania	EUR	0.45	0.89
Luxembourg	EUR	0.84	0.89
Mexico	MXN	9.31	19.26
Netherlands	EUR	0.78	0.89
New Zealand	NZD	1.45	1.52
Norway	NOK	9.93	8.80
Poland	PLN	1.75	3.84
Portugal	EUR	0.57	0.89
Slovak Republic	EUR	0.51	0.89
Slovenia	EUR	0.57	0.89
Spain	EUR	0.63	0.89
Sweden	SEK	8.75	9.46
Switzerland	CHF	1.15	0.99
Turkey	TRY	1.84	5.67
United Kingdom	GBP	0.68	0.78
United States	USD	1.00	1.00

Notes:

1. Purchase Parity Rates (PPP) for GDP 2019. Accessed on 28 August 2020. For further detail, see www.oecd.org/std/ppp.

2. Average market rates 2019. OECD Monthly Monetary Statistics. For further details see stats.oecd.org.

Note on exchange rates: Cross-country comparisons of thresholds or tax amounts expressed in national currency require their conversion into one single currency. By convention, the currency used in this publication is the United States Dollar (USD). Two exchange rates can generally be used for converting national currencies into USD: (1) market exchange rates, which are currency exchange rates observed on the markets. The rate used in this publication is the average rate for 2019 as published in the OECD Monetary and Financial Statistics. However, the rate used for Table 3.5 is the average market exchange rate for 2018 as prices and taxes refer to the year 2018. (2) The purchasing power parity rates (PPP) for GDP, which equalise the purchasing power of different countries by eliminating differences in price levels between them; they show the specified number of monetary units needed in each country to buy the same representative basket of consumer goods and services that costs USD 1 in the United States. PPP exchange rates (for 2019) are used for Tables 2.5, 2.8 and 2.9 as they provide for a better comparison of the value of VAT relief thresholds. Market exchange rates are used for the other tables as they allow easier comparison of prices and the level of taxes in countries.

Source: OECD.