Fossil-Fuel Subsidies in the EU’s Eastern Partner Countries

Annex A. Currency exchange rates

Table A A.1. Currency exchange rates, National currency per USD

Country	Currency	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019
Armenia	AMD	373.66	372.50	401.76	409.63	415.92	477.92	480.49	482.72	482.99	480.42
Azerbaijan	AZN	0.80	0.79	0.79	0.78	0.78	1.02	1.60	1.72	1.70	1.70
Belarus1	BYN	2 978.51	4 974.63	8 336.90	8 880.05	1 0224.10	1 5925.99	1.99	1.93	2.04	2.20
Georgia	GEL	1.78	1.69	1.65	1.66	1.77	2.27	2.37	2.51	2.53	2.87
Moldova	MDL	12.37	11.74	12.11	12.59	14.04	18.82	19.92	18.50	16.80	17.49
Ukraine	UAH	7.94	7.97	7.99	7.99	11.89	21.84	25.55	26.60	27.20	24.74

Note: Although Belarus undertook currency redenomination in 2016 (National Bank of the Republic of Belarus, 2015[1]), exchange rates were not adjusted for 2010‑15. Such an adjustment would have implied dividing the respective exchange rates by 10 000, which would have distorted USD subsidy values for the period. To avoid such distortions, the actual unadjusted exchange rate for Belarus for the period before redenomination was used. Currency redenomination means that subsidy values in BYN drop by 10 000 times but time series in USD remain consistent and comparable.

Source: National Accounts and (World Bank, 2020[2])

References

[1] National Bank of the Republic of Belarus (2015), “On redenomination of the Belarusian Ruble since July 1, 2016”, 5 November, Press Release, National Bank of the Republic of Belarus, Minsk, https://www.nbrb.by/engl/news/4565.

[2] World Bank (2020), “Economy”, World Bank Open Data, (database), https://data.worldbank.org/ (accessed on 29 May 2020).

Note