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Daily nominal effective exchange rate of the euro

The nominal effective exchange rate (NEER) of the euro is a weighted average of nominal bilateral rates between the euro and a basket of foreign currencies.

It is an indicator of the external values of the euro vis-à-vis the currencies of selected euro area’s trading partners.

If this index rate goes up, more foreign currency can be obtained, on average, for €1. It therefore becomes more expensive, on average, for those who want to exchange foreign currency for euro. Likewise, if this index rate goes down, less foreign currency can be obtained, on average, for €1 and, in turn, it becomes less expensive to exchange foreign currency into euro.

How are nominal effective exchange rates of the euro calculated?

The nominal effective exchange rates of the euro are calculated by the European Central Bank (ECB).

They are based on weighted averages of bilateral euro exchange rates against 42 trading partners of the euro area.

The weights capture third-market effects and are based on trade in manufactured goods and services with the euro area’s trading partners in the periods 1995-97, 1998-2000, 2001-03, 2004-06, 2007-09, 2010-12,2013-15 and 2016-18, with the indices being chain-linked at the end of each three-year period.

1 July 2020: updated trade weights data underlying the EERs and HCIs

The base period is the first quarter of 1999 (i.e. 1999 Q1 = 100).
The latest value shown usually refers to the previous business day.

Related information

Two additional sets of daily nominal indices, considering 12 and 19 trading partners are also available in the Statistical Data Warehouse.

Weights in the EER-42 indices based on different reference periods (top 15 trading partners displayed)

Chart of the weights in the EER-19 indices (of the 19 major trading partners of the euro area) based on different reference periods: 1995-1997, 2001-2003, 2007-2009, 2010-2012, 2013-2015. Weights of trading partner countries in the EER-42 indices based on different reference periods
Euro area trading partner reference period 1995-1997 reference period 1998-2000 reference period 2001-2003 reference period 2004-2006 reference period 2007-2009 reference period 2010-2012 reference period 2013-2015 reference period 2016-2018
Algeria 0.4 0.3 0.4 0.3 0.4 0.4 0.4 0.3
Argentina 0.5 0.5 0.3 0.3 0.4 0.4 0.4 0.3
Australia 0.8 0.7 0.8 0.8 0.9 0.8 0.8 0.8
Bulgaria 0.2 0.3 0.3 0.4 0.5 0.5 0.5 0.5
Brazil 1.3 1.2 1.1 1.2 1.4 1.6 1.4 1.2
Canada 1.5 1.6 1.6 1.6 1.5 1.5 1.4 1.4
Chile 0.3 0.3 0.3 0.4 0.4 0.4 0.3 0.3
China 3.4 4.0 5.7 8.2 10.8 13.0 13.8 13.9
Colombia 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Croatia 0.5 0.5 0.6 0.6 0.6 0.5 0.5 0.5
Czech Republic 1.9 2.1 2.5 3.0 3.4 3.4 3.3 3.6
Denmark 2.6 2.3 2.4 2.3 2.3 2.0 1.9 1.9
Hong Kong 3.0 2.7 2.6 2.5 2.1 2.0 2.0 1.8
Hungary 1.3 1.8 2.0 2.2 2.3 2.0 2.1 2.2
Iceland 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
India 1.1 1.2 1.3 1.8 2.3 2.6 2.6 2.8
Indonesia 0.8 0.6 0.6 0.6 0.5 0.6 0.6 0.6
Israel 1.0 1.0 0.9 0.8 0.7 0.8 0.8 0.9
Japan 8.2 7.5 6.5 5.7 4.9 4.6 3.8 3.8
Malaysia 1.1 1.0 1.0 1.0 1.0 1.0 0.9 0.9
Mexico 0.8 1.1 1.2 1.1 1.0 1.1 1.2 1.3
Morocco 0.5 0.6 0.6 0.6 0.7 0.6 0.7 0.7
New Zealand 0.2 0.1 0.2 0.2 0.1 0.1 0.1 0.1
Norway 1.4 1.3 1.3 1.3 1.4 1.2 1.1 1.0
Peru 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2
Philippines 0.4 0.5 0.4 0.4 0.3 0.3 0.4 0.4
Poland 2.1 2.4 2.8 3.5 4.4 4.5 4.7 5.1
Romania 0.6 0.7 0.9 1.2 1.5 1.5 1.6 1.8
Russia 2.3 1.8 2.0 2.6 3.1 3.3 3.1 2.6
Saudi Arabia 0.5 0.4 0.5 0.6 0.7 0.7 0.8 0.8
Singapore 2.0 1.7 1.8 1.5 1.6 1.7 1.6 1.7
South Africa 0.9 0.8 0.8 1.0 0.9 0.8 0.7 0.7
South Korea 2.3 2.1 2.3 2.6 2.6 2.5 2.4 2.4
Sweden 4.2 4.0 3.6 3.7 3.5 3.4 3.2 3.1
Switzerland 7.9 7.1 6.9 6.4 6.5 6.5 6.1 5.8
Taiwan 1.8 1.9 1.7 1.5 1.3 1.3 1.2 1.2
Thailand 1.1 0.9 0.9 0.9 1.0 1.0 1.1 1.2
Turkey 2.0 2.1 2.1 2.6 2.6 2.7 2.7 2.6
Ukraine 0.4 0.4 0.4 0.6 0.7 0.6 0.4 0.4
United Arab Emirates 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1
United Kingdom 18.7 18.5 17.9 16.3 13.5 12.1 12.4 11.9
United States 19.1 21.2 20.0 16.5 15.1 14.4 15.4 15.8
Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0