Real Exchange Rates

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  • The real (effective) exchange rate is a measure of the value of a currency against a weighted average of several foreign currencies divided by a price deflator; in this case, the consumer price index.
  • An increase in the index (an appreciation) implies that exports become more expensive and imports become cheaper; therefore, it indicates a loss of trade competitiveness.
  • For more information see the IFS site.

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    Notes: Real effective exchange rate, based on the local consumer price index. 2009 = 100.
    Source: International Financial Statistics (IFS), IMF.
    Latest available data : April 2023.