The nominal effective exchange rate (NEER) – 42 trading partners – is the weighted average of bilateral nominal exchange rates against the currencies of 42 selected trading partners. The data are presented as 3-year % change, 1-year % change and index 2015=100. Data source: Directorate General for Economic and Financial Affairs (DG ECFIN).

The nominal effective exchange rate – euro area trading partners – is the weighted average of bilateral nominal exchange rates against the currencies of selected trading partners in the euro area (21 trading partners, euro area since 2026). The data are presented as 3-year+ % change, 1-year % change and index 2015=100. Data source: Directorate General for Economic and Financial Affairs (DG ECFIN).

The real effective exchange rate (REER) – 42 trading partners – aims at assessing a country's price or cost competitiveness relative to its principal competitors in international markets. Changes in cost and price competitiveness depend not only on exchange rate movements but also on cost and price trends. The indicator is deflated by the consumer price indices relative to a panel of 42 countries (double export weights are used to calculate REERs, reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The data are expressed as index with base year 2015.