EURO EFFECTIVE EXCHANGE RATES

Nominal euro EERs are weighted averages of bilateral euro exchange rates against the currencies of the euro area''s main trading partners. The ECB publishes nominal EER indices for the euro against the currencies of a narrow and a broad group of trading partners. The weights used reflect the share of each partner country in euro area trade. Real EERs are nominal EERs deflated by a weighted average of foreign, relative to domestic, prices or costs. They are, thus, measures of price and cost competitiveness.