Venezuela, RB | 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
Bolivarian Republic of Venezuela
Records
63
Source
Venezuela, RB | 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 80.55707524
1981 90.33574769
1982 97.67271318
1983 103.44964914
1984 72.87100064
1985 72.73440629
1986 68.1461541
1987 42.68701186
1988 52.092663
1989 41.71431731
1990 36.81303699
1991 39.42370811
1992 40.96986178
1993 43.09049736
1994 41.72773393
1995 51.71365265
1996 42.90494771
1997 54.79508446
1998 67.49700901
1999 76.99545948
2000 79.98222318
2001 85.06892686
2002 66.51855297
2003 57.75486346
2004 55.76729735
2005 54.59174352
2006 57.80817915
2007 63.3483618
2008 75.95483155
2009 99.06299248
2010 100
2011 70.79989392
2012 84.98619991
2013 83.23632696
2014 128.95866702
2015 309.75213314
2016 741.70277092
2017
2018
2019
2020
2021
2022
Venezuela, RB | 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
Bolivarian Republic of Venezuela
Records
63
Source