Real Effective Exchange Rate in Philippines
Philippines: Real Effective Exchange Rate was 117.37 in 2024. ▲ Rising
Real Effective Exchange Rate in Philippines, 1994–2024
Source: World Bank staff calculations based on Datastream and IMF International Finance Statistics data.
Analysis
In 2024, real effective exchange rate in Philippines stood at 117.37. That is the highest value across all 31 years on record.
The figure is up 1.0% on the previous year and up 8.9% over ten years.
Over the whole period, real effective exchange rate in Philippines peaked at 117.37 in 2024 and was at its lowest, 75.51, in 2004.
That places Philippines 20th out of 107 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 31 years of available data.
Real Effective Exchange Rate in Philippines, year by year
| Year | Value | Change |
|---|---|---|
| 1994 | 104.46 | — |
| 1995 | 106.14 | +1.6% |
| 1996 | 113.9 | +7.3% |
| 1997 | 112.36 | -1.4% |
| 1998 | 94.15 | -16.2% |
| 1999 | 99.66 | +5.9% |
| 2000 | 90.92 | -8.8% |
| 2001 | 86.2 | -5.2% |
| 2002 | 86.43 | +0.3% |
| 2003 | 78.96 | -8.6% |
| 2004 | 75.51 | -4.4% |
| 2005 | 79.62 | +5.4% |
| 2006 | 87.91 | +10.4% |
| 2007 | 95.24 | +8.3% |
| 2008 | 98.19 | +3.1% |
| 2009 | 96.61 | -1.6% |
| 2010 | 99.98 | +3.5% |
| 2011 | 100.35 | +0.4% |
| 2012 | 105.06 | +4.7% |
| 2013 | 108.35 | +3.1% |
| 2014 | 107.75 | -0.6% |
| 2015 | 113.99 | +5.8% |
| 2016 | 109.93 | -3.6% |
| 2017 | 104.77 | -4.7% |
| 2018 | 101.83 | -2.8% |
| 2019 | 106.72 | +4.8% |
| 2020 | 112.97 | +5.9% |
| 2021 | 113.93 | +0.8% |
| 2022 | 112.52 | -1.2% |
| 2023 | 116.24 | +3.3% |
| 2024 | 117.37 | +1.0% |
Philippines compared with similar countries
- Philippines's 117.37 is above the median for upper middle income countries, which is 101.79, 1.2× the median. (32 countries reporting)
- Philippines's 117.37 is above the median for East Asia & Pacific, which is 108.54, 1.1× the median. (16 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 105.11 | 94.15 | 113.9 | 6 |
| 2000s | 87.56 | 75.51 | 98.19 | 10 |
| 2010s | 105.87 | 99.98 | 113.99 | 10 |
| 2020s | 114.61 | 112.52 | 117.37 | 5 |
Countries ranked near Philippines
More reference data data for Philippines
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 2.21 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 2.95 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 12.86 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 1.43 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 12.86 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 7.4 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 10.7 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 15.23 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 67.05 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 7.76 (2050)
Frequently asked questions
- What is real effective exchange rate in Philippines?
- Real effective exchange rate in Philippines was 117.37 in 2024, according to World Bank staff calculations based on Datastream and IMF International Finance Statistics data.
- What is the highest real effective exchange rate recorded in Philippines?
- The highest recorded value was 117.37 in 2024.
- What is the lowest real effective exchange rate recorded in Philippines?
- The lowest recorded value was 75.51 in 2004.
- How does Philippines rank for real effective exchange rate?
- Philippines ranks 20th out of 107 countries with data for 2024.
- Is real effective exchange rate rising or falling in Philippines?
- Over the last ten years it is up 8.9%. The long-run trend across the full record is rising.
- Where does this Philippines data come from?
- The figures come from World Bank staff calculations based on Datastream and IMF International Finance Statistics data, published as part of Real Effective Exchange Rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.