Glossary

Updated 23 September 2018

This glossary offers definitions of technical terms commonly used in the BIS Quarterly Review.

The glossary is also available as a PDF file in ChineseFrench, German, Italian and Spanish.

real effective exchange rate (REER)

NEER adjusted by some measure of relative prices or costs; changes in the REER thus take into account both nominal exchange rate developments and the inflation differential vis-à-vis trade partners. BIS-calculated REERs are adjusted by relative
consumer prices. An increase in the index indicates an appreciation. See also "effective exchange rate" and "nominal effective exchange rate".

Updated: 11 Dec 2016
real effective exchange rate (REER)

NEER adjusted by some measure of relative prices or costs; changes in the REER thus take into account both nominal exchange rate developments and the inflation differential vis-à-vis trade partners. BIS-calculated REERs are adjusted by relative
consumer prices. An increase in the index indicates an appreciation. See also "effective exchange rate" and "nominal effective exchange rate".

Updated: 11 Dec 2016