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Daily nominal effective exchange rate of the euro

Update of trade weights data underlying the EERs and HCIs

The trade weights underlying the calculation of the effective exchange rates (EERs) of the euro and the harmonised competitiveness indicators (HCIs) of the euro area countries have been updated to reflect recent developments in the pattern of international trade.

Download the explanatory note.

Check the new sets of trade weights on SDW

The nominal effective exchange rates of the euro are calculated by the European Central Bank (ECB).

They are based on weighted averages of bilateral euro exchange rates against 20 trading partners of the euro area (see the section "Background").

If this index rate goes up, more foreign currency can be obtained, on average, for €1. It therefore becomes more expensive, on average, for those who want to exchange foreign currency for euro. Likewise, if this index rate goes down, less foreign currency can be obtained, on average, for €1 and, in turn, it becomes less expensive to exchange foreign currency into euro.

The weights capture third-market effects and are based on trade in manufactured goods with the euro area´s trading partners in the periods 1995-97, 1998-2000, 2001-03, 2004-06 and 2007-09, with the indices being chain-linked at the end of each three-year period.

The base period is the first quarter of 1999 (i.e. 1999 Q1 = 100).

The latest value shown usually refers to the previous business day.

Data
Background

Data

Statistical Data Warehouse - Interactive data access

All effective exchange rates time series

An additional set of daily nominal indices, considering 12 trading partners (namely Australia, Canada, Denmark, Hong Kong, Japan, Norway, Singapore, South Korea, Sweden, Switzerland, the United Kingdom and the United States) is also available in the Statistical Data Warehouse.

Background

Weights in the EER-20 indices based on different reference periods

Chart
Table

Partner country	Reference period 1995-1997	Reference period 1998-2000	Reference period 2001-2003	Reference period 2004-2006	Reference period 2007-2009
Australia	1.0	1.0	1.0	1.0	0.9
Bulgaria	0.3	0.4	0.4	0.5	0.6
Canada	1.8	1.9	1.9	1.8	1.7
China	5.5	6.5	9.2	14.1	18.8
Czech Republic	2.7	2.9	3.6	4.2	5.0
Denmark	3.2	2.8	2.8	2.7	2.6
Hong Kong	2.4	2.1	1.9	1.8	1.6
Hungary	1.9	2.6	3.0	3.2	3.2
Japan	12.0	10.8	9.2	8.3	7.2
Latvia	0.1	0.1	0.2	0.2	0.2
Lithuania	0.2	0.2	0.3	0.4	0.4
Norway	1.6	1.4	1.3	1.3	1.3
Poland	2.9	3.4	4.0	4.8	6.2
Romania	0.9	1.0	1.4	1.7	2.0
Singapore	2.3	1.9	1.7	1.7	1.5
South Korea	3.6	3.3	3.4	4.0	3.9
Sweden	5.8	5.2	4.7	4.9	4.7
Switzerland	8.2	7.2	6.9	6.5	6.5
United Kingdom	22.7	21.6	20.4	17.6	14.9
United States	20.9	23.7	22.7	19.2	16.9
Total	100	100	100	100	100

For more detailed information on the calculation of effective exchange rates, see:

ECB Occasional Paper No. 134 entitled: "Revisiting the effective exchange rates of the Euro", by Martin Schmitz, Maarten De Clercq, Michael Fidora, Bernadette Lauro and Cristina Pinheiro, June 2012, download [1.58 MB] .
"The effective exchange rates of the euro - revised trade weights in the light of global economic integration" (ECB Monthly Bulletin, March 2012, pp. 17-21, 169 kB en), download .
Update of trade weights data underlying the EERs and HCIs download .
Euro area statistics methodological note download .
"Update of the euro effective exchange rate indices", December 2009 Press release.
Box 5 of the January 2010 issue of the ECB's Monthly Bulletin entitled "International trade developments and revision of the effective exchange rates of the Euro", download [2.43 MB] .
Box 10 of the September 2004 issue of the ECB's Monthly Bulletin entitled "Update of the overall trade weights for the effective exchange rates of the euro and computation of a new set of euro indicators", download [1.7 MB]
Update of the euro effective exchange rate indices. September 2004, download
ECB Occasional Paper No.2 entitled "The effective exchange rates of the euro", by Luca Buldorini, Stelios Makrydakis and Christian Thimann, February 2002, download .

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