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

The value for Real effective exchange rate index (2010 = 100) in Philippines was 111.96 as of 2021. As the graph below shows, over the past 42 years this indicator reached a maximum value of 132.27 in 1982 and a minimum value of 76.02 in 2004.

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
1979 116.98
1980 123.21
1981 127.45
1982 132.27
1983 111.21
1984 109.97
1985 120.40
1986 94.32
1987 87.04
1988 88.80
1989 95.36
1990 90.63
1991 90.76
1992 100.32
1993 98.76
1994 107.08
1995 108.75
1996 116.00
1997 114.42
1998 95.48
1999 100.36
2000 91.60
2001 86.43
2002 86.74
2003 79.39
2004 76.02
2005 80.03
2006 88.22
2007 95.33
2008 97.76
2009 96.01
2010 100.00
2011 100.22
2012 104.76
2013 107.58
2014 106.29
2015 111.47
2016 108.26
2017 103.39
2018 100.48
2019 105.39
2020 111.55
2021 111.96

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