North Macedonia | 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 Macedonia
Records
63
Source
North Macedonia | Real effective exchange rate index (2010 = 100)
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1993 119.12414673
1994 124.01577419
1995 136.45225501
1996 126.09501055
1997 109.8357715
1998 102.07714904
1999 102.89233137
2000 105.48903174
2001 103.0827997
2002 102.59727827
2003 104.52540392
2004 103.00594479
2005 100.12356705
2006 99.93236227
2007 99.66237782
2008 103.9004478
2009 103.70989036
2010 100
2011 100.80691403
2012 99.99824961
2013 102.20902002
2014 101.70227554
2015 98.14275558
2016 98.31695621
2017 98.60380025
2018 99.80213137
2019 98.27322743
2020 99.62204422
2021 100.43055868
2022 104.52127332

North Macedonia | 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 Macedonia
Records
63
Source