T08

Exchange Rates (Yearly Averages ) for

OPEC Member Countries, 1960-2007

(Units of National Currency per US Dollar)

1960

1961

1962

1963

1964

1965

1966

1967

1968

1969

1970

1971

1972

1973

1974

1975

1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Algeria

4.937

4.913

4.481

3.963

4.181

3.949

4.164

4.147

3.966

3.853

3.837

4.316

4.592

4.789

4.983

5.028

4.702

4.850

5.915

7.609

8.958

18.473

21.836

23.345

35.059

47.663

54.749

57.707

58.739

66.574

75.260

77.215

79.682

77.395

72.061

73.276

72.647

69.292

Angola 1/

0.000

0.003

0.128

0.229

0.393

2.791

10.041

22.058

43.530

74.606

83.541

87.159

80.368

76.706

Ecuador 2/

15.000

16.500

18.000

20.917

25.000

30.026

44.115

62.536

69.556

122.779

170.462

301.611

526.348

767.751

1,046.250

1,533.960

1,919.110

2,196.730

2,564.490

3,189.470

3,998.270

5,446.570

11,786.800

25,000.000

1.000

Indonesia

0.077

0.090

0.250

0.591

1.261

4.115

78.003

149.583

296.292

326.000

362.833

391.875

415.000

442.045

623.055

626.994

631.757

661.421

909.265

1,025.940

1,110.580

1,282.560

1,643.850

1,685.700

1,770.060

1,842.810

1,950.320

2,029.920

2,087.100

2,160.750

2,248.610

2,342.300

2,909.380

10,013.600

7,855.150

8,421.780

10,260.900

9,311.190

8,577.130

8,938.850

9,704.740

9,159.320

9,143.360

Iran, I.R. 3/

75.750

68.882

67.625

67.639

70.222

70.617

70.475

70.615

78.328

83.603

86.358

90.030

91.052

78.760

71.460

68.683

72.015

68.096

67.505

65.552

1,267.770

1,748.750

1,747.930

1,750.760

1,752.920

1,751.860

1,752.930

1,764.430

1,753.560

6,906.960

8,193.890

8,613.990

8,963.960

9,170.940

9,281.150

Iraq 4/

0.357

0.354

0.329

0.300

0.296

0.295

0.299

0.311

1,453.420

1,472.000

1,467.420

1,255.000

Kuwait

0.357

0.356

0.329

0.297

0.293

0.290

0.292

0.287

0.275

0.276

0.270

0.279

0.288

0.291

0.296

0.301

0.291

0.279

0.294

0.288

0.284

0.293

0.302

0.297

0.298

0.299

0.303

0.305

0.304

0.307

0.304

0.298

0.295

0.292

0.290

0.284

Libya, S.P.A.J.

0.357

0.356

0.329

0.300

0.296

0.315

0.297

0.286

0.300

0.283

0.281

0.282

0.304

0.348

0.418

0.437

0.461

0.468

0.464

0.512

0.605

1.271

1.293

1.305

1.308

1.314

1.263

Nigeria 5/

0.714

0.713

0.658

0.630

0.616

0.627

0.645

0.635

0.604

0.547

0.618

0.673

0.724

0.767

0.894

1.755

4.016

4.537

7.365

8.038

9.909

17.298

22.065

21.996

21.895

21.884

21.886

92.338

101.697

111.231

120.578

129.222

132.888

131.274

128.652

125.808

Qatar

4.773

4.766

4.776

4.785

4.794

4.761

4.762

4.748

4.386

3.996

3.947

3.931

3.963

3.959

3.877

3.773

3.657

3.640

Saudi Arabia

4.500

4.487

4.145

3.707

3.550

3.518

3.530

3.525

3.400

3.361

3.327

3.383

3.428

3.455

3.524

3.622

3.706

3.750

3.747

3.745

3.748

United Arab Emirates

4.761

4.762

4.748

4.386

3.996

3.959

3.961

3.953

3.903

3.871

3.816

3.707

3.671

3.673

Venezuela

3.350

4.399

4.450

4.447

4.400

4.305

4.285

4.290

4.293

4.297

7.017

7.500

8.083

14.500

34.682

46.901

56.816

68.376

90.826

148.442

176.842

417.333

488.635

547.556

605.717

679.960

723.666

1,160.950

1,606.960

1,891.330

2,089.750

2,147.000

NOTES:Conversions to the US Dollar are based on average annual market exchange rates; otherwise,official rates are applied.

1/ Data prior to 1995 are not comparable to current exchange rates definitions due to several re-adjustments of exchange rate units

2/ In 2000, the Ecuadorian Congress approved a new exchange rate system, whereby the US dollar is adopted as the main legal tender.

3/ In May 1995 a rate $1 = IR 3000 was introduced applicable to exports. Beginning from March 2002 a unified exchange rate has

replaced the dual foreigjn exchange rate system.

4/ The parallel market rate was 1,100 ID/US$ in 1,995, 2500 ID/US$ in 1,996, 2300 ID/US$ in 1997, 2200 ID/US$ in 1998,

2100 ID/US$ in 1999, 2000 ID/US$ in 2000 , 1900 ID/US$ in 2001, 2000 ID/US$ in 2002 and 2100 ID/US$ in 2003.

On October 15, 2003 the new national currency known as the "new Iraqi dinar" replaced the “old dinar”.

5/ The autonomus market rate was 82.3 N/US$ in 1995 , 81 N/US$ in 1996, 83.5 N/US$ in 1997 and 85.25 N/US$ in 1998.

In January 1999, the dual exchange rate system was abolished.

Sources: International Monetary Fund,International Financial Statistics, World Bank, The Economist Intelligence Unit, Country Reports.