Gambia, The | Real effective exchange rate index (2010 = 100)
Real effective exchange rate is the nominal effective exchange rate (a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs. Development relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world. Limitations and exceptions: Because of conceptual and data limitations, changes in real effective exchange rates should be interpreted with caution. Statistical concept and methodology: The real effective exchange rate is a nominal effective exchange rate index adjusted for relative movements in national price or cost indicators of the home country, selected countries, and the euro area. A nominal effective exchange rate index is the ratio (expressed on the base 2010 = 100) of an index of a currency's period-average exchange rate to a weighted geometric average of exchange rates for currencies of selected countries and the euro area. For most high-income countries weights are derived from industrial country trade in manufactured goods. Data are compiled from the nominal effective exchange rate index and a cost indicator of relative normalized unit labor costs in manufacturing. For selected other countries the nominal effective exchange rate index is based on manufactured goods and primary products trade with partner or competitor countries. For these countries the real effective exchange rate index is the nominal index adjusted for relative changes in consumer prices; an increase represents an appreciation of the local currency.
Publisher
The World Bank
Origin
Republic of the Gambia
Records
63
Source
Gambia, The | Real effective exchange rate index (2010 = 100)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980 269.88801984
1981 258.54763942
1982 259.78834494
1983 261.82168056
1984 248.79458327
1985 266.84429756
1986 191.77860635
1987 202.18000635
1988 222.25295817
1989 214.86480509
1990 205.25210639
1991 197.17779231
1992 198.86228566
1993 212.4641378
1994 201.21147309
1995 195.1374788
1996 191.57894486
1997 197.63235695
1998 196.55807562
1999 191.99932053
2000 183.5362362
2001 158.4992614
2002 131.55917737
2003 95.23001539
2004 93.79382781
2005 99.68466599
2006 99.19965522
2007 107.543985
2008 113.73167625
2009 102.78890873
2010 100
2011 92.48589801
2012 89.00410646
2013 81.4834972
2014 73.61867497
2015 72.75768095
2016 88.16827489
2017 89.66639817
2018 88.90555005
2019 93.40708442
2020 94.52384713
2021 94.53048821
2022 99.34908864
Gambia, The | Real effective exchange rate index (2010 = 100)
Real effective exchange rate is the nominal effective exchange rate (a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs. Development relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world. Limitations and exceptions: Because of conceptual and data limitations, changes in real effective exchange rates should be interpreted with caution. Statistical concept and methodology: The real effective exchange rate is a nominal effective exchange rate index adjusted for relative movements in national price or cost indicators of the home country, selected countries, and the euro area. A nominal effective exchange rate index is the ratio (expressed on the base 2010 = 100) of an index of a currency's period-average exchange rate to a weighted geometric average of exchange rates for currencies of selected countries and the euro area. For most high-income countries weights are derived from industrial country trade in manufactured goods. Data are compiled from the nominal effective exchange rate index and a cost indicator of relative normalized unit labor costs in manufacturing. For selected other countries the nominal effective exchange rate index is based on manufactured goods and primary products trade with partner or competitor countries. For these countries the real effective exchange rate index is the nominal index adjusted for relative changes in consumer prices; an increase represents an appreciation of the local currency.
Publisher
The World Bank
Origin
Republic of the Gambia
Records
63
Source