Real effective exchange rate (REER), Index (2010=100) Adjusted by relative unit labor costs (advanced economies only) by country
The Effective Exchange Rate (EER) dataset includes annual, quarterly and monthly nominal and real effective exchange rates by economy. Nominal effective exchange rates (NEERs) measure the value of a country's currency in relation to a weighted average of the currency values of their major trading partners. Real...
What the numbers show
Real effective exchange rate (REER), Index (2010=100) Adjusted by relative unit labor costs (advanced economies only) is currently reported for 24 countries. The highest value is 153.32 in United States of America; the lowest is 52.93 in Japan.
The median across all reporting countries is 96.39, and the mean is 95.76.
The gap between the highest and lowest reporting country is a factor of about 3.
Over the past decade 11 countries rose and 13 fell. The largest increase was in United States of America (up 26.7%), and the largest decrease in Japan (down 27.6%).
Real effective exchange rate (REER), Index (2010=100) Adjusted by: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | United States of America | 153.32 | 2025 | up 26.7% | rising |
| 2 | Israel | 122.72 | 2025 | up 15.0% | rising |
| 3 | Switzerland | 120.72 | 2025 | up 1.0% | rising |
| 4 | Portugal | 114.22 | 2025 | up 26.0% | rising |
| 5 | United Kingdom of Great Britain and Northern Ireland | 113.41 | 2025 | down 2.9% | rising |
| 6 | Austria | 109.7 | 2025 | up 14.0% | falling |
| 7 | Finland | 108.62 | 2025 | up 3.9% | falling |
| 8 | Germany | 103.49 | 2025 | up 8.4% | falling |
| 9 | Belgium | 103.27 | 2025 | up 9.0% | flat |
| 10 | Italy | 103.01 | 2025 | up 0.9% | rising |
| 11 | New Zealand | 98.52 | 2025 | down 8.6% | rising |
| 12 | Luxembourg | 96.45 | 2025 | down 3.7% | rising |
| 13 | Denmark | 96.34 | 2025 | up 4.5% | rising |
| 14 | Singapore | 90.99 | 2025 | down 24.0% | rising |
| 15 | Australia | 87.92 | 2025 | down 4.1% | rising |
| 16 | Spain | 87.61 | 2025 | up 7.2% | flat |
| 17 | France | 84.21 | 2025 | down 7.3% | falling |
| 18 | Norway | 80.83 | 2025 | down 10.7% | rising |
| 19 | Sweden | 79.23 | 2025 | down 18.6% | falling |
| 20 | Ireland | 78.88 | 2025 | down 6.9% | falling |
| 21 | Canada | 77.93 | 2025 | down 4.1% | rising |
| 22 | Netherlands | 69.16 | 2025 | down 20.7% | falling |
| 23 | Greece | 64.87 | 2025 | down 19.4% | falling |
| 24 | Japan | 52.93 | 2025 | down 27.6% | falling |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- Euro Area (EA) 86.59
About this data
The Effective Exchange Rate (EER) dataset includes annual, quarterly and monthly nominal and real effective exchange rates by economy. Nominal effective exchange rates (NEERs) measure the value of a country's currency in relation to a weighted average of the currency values of their major trading partners. Real effective exchange rates (REERs) adjust the NEER to account for a country's inflation rate in relation to the weighted inflation rate of their major trading partners. The IMF publishes NEERs and REERs for approximately 90 IMF member countries that account for the vast share of global international trade. These statistics help policymakers and analysts assess the competitiveness of a country's exports, monitor currency trends, evaluate the impact of exchange rate changes on trade flows, and inform decisions regarding monetary policy, exchange rate management, and international trade. The EERs are calculated by IMF staff using exchange rate information, consumer price indexes received from national authorities and international trade weights. These weights are calculated as three-year averages of annual data available from official sources on trade, tourism and manufacturing collected from the United Nations (UN), Organization for Economic Co-operation and Development (OECD), World Bank, World Tourism Organization (UNWTO), United Nations Industrial Development Organization (UNIDO).