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Real effective exchange rates, Narrow (27 economies) indices
CPI-based; period averages; 2020 = 100
1
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«
‹
Mar 2023
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Year
Quarter
Month
2018
2019
2020
2021
2022
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Oct 2022
Nov 2022
Dec 2022
Jan 2023
Feb 2023
Mar 2023
Algeria
Argentina
Australia
105.7
101.3
100.0
106.5
107.1
105.3
106.2
108.7
108.4
105.1
104.0
105.6
105.6
107.1
107.3
103.9
Austria
99.5
98.9
100.0
100.3
100.3
100.1
99.9
99.9
100.2
101.2
100.6
101.2
101.9
102.5
102.7
102.8
Belgium
100.4
99.4
100.0
100.1
100.7
100.3
101.3
99.8
99.7
101.8
101.4
101.8
102.1
102.4
100.9
101.0
Bosnia & Herzegovina
Brazil
Bulgaria
Canada
102.4
101.2
100.0
105.1
103.2
104.8
104.5
105.3
103.7
99.4
99.4
100.5
98.3
98.5
98.5
96.9
Chile
China
Chinese Taipei
97.6
96.5
100.0
103.7
103.5
106.0
105.5
104.2
103.9
100.5
101.6
100.2
99.8
99.2
99.7
99.0
Colombia
Croatia
Cyprus
Czechia
Denmark
100.5
99.3
100.0
99.0
98.1
97.9
98.1
97.9
98.1
98.1
98.6
97.9
97.8
98.9
99.1
98.4
Estonia
Finland
100.7
99.9
100.0
99.3
98.3
98.5
98.8
98.2
97.3
98.7
97.7
99.1
99.4
100.3
100.4
100.8
France
100.9
99.6
100.0
99.2
95.5
97.8
96.9
96.1
94.7
94.5
93.8
94.6
95.0
95.4
95.8
96.3
Germany
100.8
99.5
100.0
101.0
98.4
99.6
99.0
98.7
97.3
98.6
98.0
98.8
98.9
100.1
100.2
100.7
Greece
102.8
101.4
100.0
98.8
100.2
99.8
99.5
102.1
100.1
99.1
99.2
99.3
98.9
98.3
98.1
99.0
Hong Kong SAR
95.7
99.5
100.0
96.9
98.8
97.6
97.1
98.3
100.0
99.7
102.3
99.5
97.3
95.6
95.5
95.5
Hungary
Iceland
India
Indonesia
Ireland
102.9
100.1
100.0
100.0
96.6
98.9
97.5
96.9
95.4
96.6
95.3
96.7
97.8
97.3
98.1
98.7
Israel
Italy
102.2
100.3
100.0
99.6
98.7
98.5
99.2
97.8
97.3
100.7
99.7
100.8
101.7
101.7
101.1
100.2
Japan
95.9
99.1
100.0
91.4
78.1
88.1
85.8
77.9
75.1
73.6
72.1
73.0
75.6
77.3
75.3
75.2
Korea
107.1
102.2
100.0
101.2
96.4
99.2
98.5
98.0
95.3
93.7
91.4
93.7
96.0
98.6
96.6
94.5
Latvia
Lithuania
Luxembourg
Malaysia
Malta
Mexico
105.6
108.8
100.0
106.1
111.0
105.1
106.8
110.0
111.4
116.0
114.6
117.4
116.0
119.1
121.8
123.2
Morocco
Netherlands
98.5
98.8
100.0
100.2
101.2
100.2
100.8
100.2
101.8
102.1
103.6
100.7
101.8
100.3
100.8
100.5
New Zealand
101.8
100.8
100.0
106.4
104.8
107.9
106.1
105.3
104.1
103.5
100.2
104.0
106.4
105.2
104.3
103.7
North Macedonia
Norway
109.8
107.6
100.0
106.1
104.2
107.3
106.7
104.7
104.3
101.1
101.0
101.5
100.9
99.1
96.6
94.2
Peru
Philippines
Poland
Portugal
101.3
100.1
100.0
98.6
98.2
97.7
97.0
98.9
98.1
99.0
98.7
99.2
99.1
98.2
97.7
99.0
Romania
Russia
Saudi Arabia
Serbia
Singapore
102.6
103.1
100.0
100.4
106.4
101.2
102.8
105.1
108.2
109.5
108.5
109.9
110.0
110.2
110.8
110.6
Slovak Republic
Slovenia
South Africa
Spain
101.8
100.5
100.0
100.8
100.8
101.7
101.5
101.8
100.7
99.2
98.9
99.1
99.6
99.3
99.6
99.5
Sweden
101.6
98.2
100.0
102.8
97.3
102.1
98.0
97.9
97.2
96.2
94.4
96.3
98.0
95.3
96.1
95.8
Switzerland
95.4
96.7
100.0
97.4
97.8
97.7
97.7
96.4
99.6
97.5
97.2
97.4
97.8
97.8
98.4
97.9
Thailand
Türkiye
United Arab Emirates
United Kingdom
100.4
100.4
100.0
103.9
103.8
105.2
105.5
104.5
102.4
102.7
101.4
102.7
104.0
102.1
102.2
102.9
United States
95.6
98.3
100.0
97.5
106.5
100.5
101.8
105.8
109.8
108.8
112.2
108.4
105.9
104.3
104.5
104.7
Memo:
Euro area
102.5
99.3
100.0
100.5
97.4
98.7
98.3
97.5
95.5
98.4
97.4
98.4
99.4
99.6
99.8
100.6
1
An increase indicates an appreciation of the economy's currency against a broad basket of currencies.
