China’s real, nominal EERs strengthen for 5 months: BIS

BEIJING, Jan. 9 (Xinhua) — Both of China’s real and nominal effective exchange rates (EERs) have strengthened for five consecutive months up to November 2020, latest data from the Bank for International Settlement (BIS) showed.

According to BIS’s monthly data, the real EER has climbed 3.79 percent to 126.13 from June to November, while the nominal EER has gone up 4.13 percent to 119.73 during the period.

The BIS EER indices cover 60 economies, including the United States, Australia, China, individual euro area countries, and separately, the euro area as an entity.

The most recent weights are based on trade in the 2014 to 2016 period, with 2010 as the indices’ base year.

Nominal EERs are calculated as geometric weighted averages of bilateral exchange rates, while the real EERs are the same weighted averages of bilateral exchange rates adjusted by relative consumer prices. An increase in the index indicates an appreciation. 

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