Greece - Real effective exchange rate index (2010 = 100)

The value for Real effective exchange rate index (2010 = 100) in Greece was 85.91 as of 2021. As the graph below shows, over the past 41 years this indicator reached a maximum value of 100.77 in 2009 and a minimum value of 73.47 in 1986.

Definition: 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.

Source: International Monetary Fund, International Financial Statistics.

See also:

Year Value
1980 83.96
1981 87.15
1982 90.43
1983 83.60
1984 81.05
1985 78.42
1986 73.47
1987 75.18
1988 77.32
1989 78.23
1990 82.65
1991 83.54
1992 85.97
1993 86.53
1994 87.60
1995 90.45
1996 94.42
1997 94.11
1998 91.44
1999 91.41
2000 85.15
2001 86.16
2002 88.80
2003 94.70
2004 96.29
2005 96.09
2006 96.64
2007 97.89
2008 99.46
2009 100.77
2010 100.00
2011 100.73
2012 97.49
2013 96.47
2014 94.87
2015 89.56
2016 89.74
2017 90.30
2018 90.81
2019 88.85
2020 87.73
2021 85.91

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.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices