BIS effective exchange rate indices

6 March 2006

updated 1 September 2008

The BIS calculates effective exchange rate (EER) indices for a total of 52 economies (including individual euro area countries and, separately, the euro area as an entity). 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.

Two basket compositions are available:

• Broad indices (Excel, 141 kb) comprising 52 economies (with data from 1994)
• Narrow indices (Excel, 225 kb) comprising 27 economies (with data from 1964)

The weighting pattern is time-varying, and the most recent weights are based on trade in 2002–04 (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