Real Effective Exchange Rate by country
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.
Countries reporting
107
Highest
15,577
Venezuela
Lowest
51.58
Turkey
Median
101.24
Years covered
31
1994–2024
Data points
2,839
What the numbers show
Real Effective Exchange Rate is currently reported for 107 countries. The highest value is 15,577 in Venezuela; the lowest is 51.58 in Turkey.
The median across all reporting countries is 101.24, and the mean is 245.11.
The gap between the highest and lowest reporting country is a factor of about 302.
Over the past decade 54 countries rose and 53 fell. The largest increase was in Venezuela (up 18,228.9%), and the largest decrease in Nigeria (down 51.2%).
Real Effective Exchange Rate: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Venezuela | 15,577 | 2022 | up 18,228.9% | volatile |
| 2 | Bolivia | 143.26 | 2018 | up 47.4% | rising |
| 3 | Iceland | 139.92 | 2018 | up 16.4% | falling |
| 4 | Argentina | 132.83 | 2024 | up 10.7% | falling |
| 5 | Vietnam | 129.99 | 2024 | up 10.6% | rising |
| 6 | Central African Republic | 127.93 | 2018 | up 22.6% | rising |
| 7 | United States | 127.79 | 2024 | up 29.2% | rising |
| 8 | Solomon Islands | 126.54 | 2018 | up 25.8% | rising |
| 9 | Saudi Arabia | 126.41 | 2024 | up 19.9% | flat |
| 10 | Trinidad and Tobago | 126.31 | 2018 | up 45.6% | rising |
| 11 | Hong Kong | 123.86 | 2024 | up 18.6% | falling |
| 12 | Moldova | 122.36 | 2018 | up 17.6% | rising |
| 13 | Singapore | 121.9 | 2024 | up 9.0% | rising |
| 14 | Papua New Guinea | 120.86 | 2018 | up 27.4% | rising |
| 15 | Kuwait | 120.75 | 2024 | up 13.2% | rising |
| 16 | Czechia | 119.59 | 2024 | up 32.3% | rising |
| 17 | Burundi | 118.31 | 2018 | up 33.1% | rising |
| 18 | Democratic Republic of Congo | 118.21 | 2018 | up 27.8% | volatile |
| 19 | Bulgaria | 118.09 | 2024 | up 18.0% | rising |
| 20 | Philippines | 117.37 | 2024 | up 8.9% | rising |
| 21 | Uruguay | 116.75 | 2018 | up 32.3% | rising |
| 22 | China | 114.33 | 2024 | down 2.5% | rising |
| 23 | Ecuador | 113.55 | 2024 | up 8.3% | rising |
| 24 | Paraguay | 113.52 | 2018 | up 4.9% | rising |
| 25 | Fiji | 112.7 | 2018 | down 5.8% | flat |
| 26 | Romania | 110.58 | 2024 | up 8.9% | rising |
| 27 | Poland | 110.46 | 2024 | up 15.1% | rising |
| 28 | India | 110.2 | 2024 | up 14.7% | rising |
| 29 | Switzerland | 110.08 | 2024 | up 5.6% | rising |
| 30 | Bahrain | 109.31 | 2018 | up 11.7% | falling |
| 31 | United Kingdom | 108.67 | 2024 | down 0.8% | falling |
| 32 | Antigua and Barbuda | 107.91 | 2018 | up 13.1% | falling |
| 33 | Pakistan | 107.65 | 2024 | up 3.3% | falling |
| 34 | Israel | 106.47 | 2024 | up 4.0% | flat |
| 35 | Costa Rica | 105.74 | 2018 | up 18.6% | rising |
| 36 | Panama | 105.73 | 2024 | down 1.8% | flat |
| 37 | Mexico | 104.98 | 2024 | up 4.3% | falling |
| 38 | Guyana | 104.61 | 2018 | up 10.8% | rising |
| 39 | Taiwan | 104.6 | 2024 | up 5.9% | falling |
| 40 | Peru | 104.5 | 2024 | up 2.7% | flat |
| 41 | Equatorial Guinea | 104.39 | 2018 | up 7.7% | rising |
| 42 | Samoa | 104.38 | 2018 | up 12.5% | rising |
| 43 | Croatia | 104.28 | 2024 | up 9.7% | rising |
| 44 | Saint Vincent and the Grenadines | 103.92 | 2018 | up 4.8% | falling |
| 45 | Gabon | 103.15 | 2018 | down 2.5% | flat |
| 46 | New Zealand | 102.87 | 2018 | up 5.5% | rising |
| 47 | Latvia | 102.84 | 2018 | up 0.6% | rising |
| 48 | Austria | 102.77 | 2018 | up 0.0% | flat |
| 49 | Saint Lucia | 102.36 | 2018 | up 5.1% | falling |
| 50 | Dominica | 101.85 | 2018 | up 1.8% | falling |
| 51 | Thailand | 101.73 | 2024 | up 0.4% | rising |
| 52 | Sierra Leone | 101.72 | 2018 | up 0.3% | rising |
| 53 | Belgium | 101.49 | 2018 | down 2.5% | flat |
| 54 | South Korea | 101.24 | 2024 | down 7.4% | falling |
| 55 | Bahamas | 100.5 | 2018 | up 2.1% | falling |
| 56 | Armenia | 100.48 | 2018 | down 6.8% | rising |
| 57 | Luxembourg | 100.33 | 2018 | down 1.4% | flat |
| 58 | Belize | 99.9 | 2018 | up 0.1% | falling |
| 59 | Slovakia | 99.9 | 2018 | up 2.3% | rising |
| 60 | North Macedonia | 99.8 | 2018 | down 3.9% | flat |
| 61 | Netherlands | 99.4 | 2018 | down 4.1% | flat |
| 62 | Finland | 98.64 | 2018 | down 6.7% | falling |
| 63 | Georgia | 98.19 | 2018 | down 8.7% | rising |
| 64 | Morocco | 98.03 | 2024 | up 1.4% | falling |
| 65 | Cameroon | 97.92 | 2018 | down 6.8% | flat |
| 66 | Portugal | 97.8 | 2018 | down 5.9% | flat |
| 67 | Cote d'Ivoire | 97.6 | 2018 | down 8.8% | flat |
| 68 | Spain | 97.47 | 2018 | down 6.2% | flat |
| 69 | Germany | 97.01 | 2018 | down 8.4% | falling |
| 70 | Saint Kitts and Nevis | 96.97 | 2018 | down 0.5% | flat |
| 71 | Italy | 96.8 | 2018 | down 6.9% | flat |
| 72 | Togo | 96.24 | 2018 | down 7.9% | flat |
| 73 | Nicaragua | 95.57 | 2018 | down 2.3% | falling |
| 74 | Grenada | 95.43 | 2018 | down 3.6% | falling |
| 75 | France | 95.39 | 2018 | down 8.7% | falling |
| 76 | Malta | 93.85 | 2018 | down 10.9% | flat |
| 77 | Denmark | 93.82 | 2024 | down 4.2% | flat |
| 78 | Algeria | 93.28 | 2018 | down 8.8% | falling |
| 79 | Hungary | 93.19 | 2024 | up 1.4% | rising |
| 80 | Indonesia | 91.86 | 2024 | up 5.7% | falling |
| 81 | Australia | 91.43 | 2024 | down 6.4% | rising |
| 82 | Iran | 91.2 | 2018 | up 4.3% | volatile |
| 83 | Greece | 90.81 | 2018 | down 8.7% | flat |
| 84 | Ireland | 90.76 | 2018 | down 19.8% | flat |
| 85 | Cyprus | 90.07 | 2018 | down 13.2% | falling |
| 86 | Uganda | 90.05 | 2018 | down 19.0% | falling |
| 87 | Gambia | 89.11 | 2018 | down 21.7% | falling |
| 88 | Zambia | 88.44 | 2018 | down 21.4% | rising |
| 89 | Dominican Republic | 87.84 | 2018 | down 11.9% | falling |
| 90 | Sweden | 84.01 | 2024 | down 16.0% | falling |
| 91 | Chile | 82.8 | 2024 | down 8.5% | falling |
| 92 | Canada | 82.31 | 2024 | down 9.8% | rising |
| 93 | Malaysia | 82 | 2024 | down 17.1% | falling |
| 94 | Russia | 80.63 | 2024 | down 17.0% | rising |
| 95 | Lesotho | 80.55 | 2018 | down 6.2% | falling |
| 96 | Ukraine | 79.53 | 2018 | down 32.3% | falling |
| 97 | Tunisia | 78.7 | 2018 | down 23.8% | falling |
| 98 | Malawi | 76.76 | 2018 | down 21.6% | falling |
| 99 | Egypt | 74.06 | 2024 | down 28.9% | flat |
| 100 | Norway | 73.9 | 2024 | down 20.7% | falling |
| 101 | Colombia | 72.41 | 2024 | down 23.7% | falling |
| 102 | South Africa | 70.66 | 2024 | down 7.3% | falling |
| 103 | Ghana | 67 | 2018 | down 35.8% | falling |
| 104 | Brazil | 61.12 | 2024 | down 27.5% | falling |
| 105 | Nigeria | 58.47 | 2024 | down 51.2% | rising |
| 106 | Japan | 54.84 | 2024 | down 26.6% | falling |
| 107 | Turkey | 51.58 | 2024 | down 39.7% | falling |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- East Asia & Pacific (excluding high income) 111.81
- South Asia 110.2
- Low income 101.95
- Lower middle income 100.55
- Middle income 100.31
- Upper middle income 100.26
- Middle East, North Africa, Afghanistan & Pakistan (excluding high income) 91.65
- Latin America & Caribbean (excluding high income) 88.23
- Small states 63.77
- Europe & Central Asia (excluding high income) 55.14
About this data
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.