Updated 15 December 2011
The BIS effective exchange rate (EER) indices have been expanded and updated.
The basket has been broadened to include three new economies (Colombia, Luxembourg and the United Arab Emirates) bringing the total to 61 (including individual euro area countries and, separately, the euro area as an entity). In addition, to reflect changes in world trade, the indices have been updated using weights based on trade data in 2008-2010. The indices' base year has been brought forward to 2010.
Two basket compositions are available:
Broad indices comprising 61 economies, with data from 1994 (CSV, 172 kb or Excel, 191 kb)
Narrow indices comprising 27 economies, with data from 1964 (CSV, 198 kb or Excel, 240 kb)
Nominal EERs are calculated as geometric weighted averages of bilateral exchange rates. Real EERs are the same weighted averages of bilateral exchange rates adjusted by relative consumer prices. The weighting pattern is time-varying, and the most recent weights are based on trade in 2008-10 (see broad and narrow weights). The EER indices are available as monthly averages.
For an explanation of the methodology behind the BIS EER indices, see:
The new BIS effective exchange rate indices, BIS Quarterly Review, March 2006
Measuring international price and cost competitiveness, BIS Economic Papers, no 39, November 1993
The monthly effective exchange rate data will be released mid-month on a monthly basis.
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