Effective exchange rates

Information and Statistics Department

Statistics Division

Foreign Exchange Market and Direct Reporting Unit

 

 

The Nominal Effective Exchange Rate: A geometric average of the shekel exchange rate vis-à-vis 26 currencies representing 33 countries—Israel’s major trading partners by proportion of trade.  The revised and previous weights appear in the table below.

 

The Real Effective Exchange Rate: A geometric average of the shekel exchange rate vis-à-vis 26 currencies representing 33 countries—Israel’s major trading partners by proportion of trade, adjusted by the inflation spread between Israel and those countries.

 

For more information, see 

“The effective exchange rate in Israel”, October 2015.

 

 

For series of the effective exchange rates—indices and rates of change, click here.

 

 

Notes:

1.  The exchange rate: for currencies where the Bank of Israel publishes a representative rate, the rate is the representative rate.  For the other currencies, the rates are set on international markets near the time the representative rates are set for which no representative rate is calculated in Israel.

2.   The nominal effective exchange rate is only calculated on days on which the Bank of Israel publishes representative rates.

 

 

 

The Nominal Effective Exchange Rate, Weights4

 

Number

Country

Currency code (ISO)

Original

weight¹

Previous weight²

Revised weight³

Weight of exports

Weight of imports

1

United States

USD

24.0%

24.8%

26.4%

32.1%

20.6%

*

Total Eurozone

EUR

34.8%

32.6%

26.4%

24.7%

28.7%

2

China

CNY

2.6%

5.7%

10.2%

4.8%

15.4%

3

Germany

EUR

9.9%

8.1%

7.6%

5.6%

9.4%

4

United Kingdom

GBP

6.8%

5.2%

6.0%

7.7%

4.1%

5

Turkey

TRY

1.9%

3.9%

4.6%

4.4%

4.9%

6

France

EUR

5.1%

3.9%

4.0%

4.2%

3.4%

7

Italy

EUR

5.7%

5.0%

3.9%

2.3%

5.4%

8

Netherlands

EUR

5.2%

5.4%

3.1%

4.0%

3.1%

9

Spain

EUR

2.5%

2.7%

2.5%

2.3%

2.7%

10

Japan

JPY

5.4%

3.5%

2.3%

1.4%

2.8%

11

Switzerland

CHF

2.3%

3.2%

2.2%

2.2%

2.2%

12

India

INR

0.9%

1.7%

2.1%

2.0%

2.1%

13

Russia

RUB

0.9%

1.4%

2.0%

2.8%

1.3%

14

South Korea

KRW

2.4%

2.5%

2.0%

1.2%

2.9%

15

Cyprus

EUR

0.3%

1.0%

2.0%

3.3%

0.6%

16

Belgium

EUR

3.3%

3.6%

1.8%

1.6%

2.0%

17

Ireland

EUR

1.4%

0.8%

1.6%

1.3%

2.2%

18

Brazil

BRL

0.9%

1.2%

1.5%

2.0%

0.9%

19

Taiwan

TWD

2.0%

2.0%

1.5%

1.3%

1.7%

20

Canada

CAD

3.0%

1.5%

1.4%

1.2%

1.2%

21

Hong Kong

HKD

2.2%

1.7%

1.3%

1.3%

1.3%

22

Malaysia

MYR

1.2%

0.0%

1.2%

2.5%

0.5%

23

Ukraine

UAH

0.0%

0.4%

1.2%

0.9%

1.7%

24

Singapore

SGD

1.5%

1.3%

1.0%

1.4%

0.9%

25

Vietnam

VND

0.0%

0.0%

0.9%

1.2%

0.8%

26

Thailand

THB

0.8%

0.7%

0.8%

0.6%

1.1%

27

Australia

AUD

0.8%

0.8%

0.8%

1.1%

0.4%

28

Mexico

MXN

1.5%

0.5%

0.8%

0.7%

0.6%

29

Sweden

SEK

1.4%

1.0%

0.8%

0.4%

1.2%

30

Poland

PLN

0.4%

0.5%

0.8%

0.6%

0.9%

31

Czech Republic

CZK

0.0%

0.0%

0.7%

0.4%

1.1%

32

Hungary

HUF

0.0%

0.6%

0.5%

0.3%

0.7%

33

Costa Rica

CRC

0.0%

0.0%

0.4%

0.8%

0.0%

34

South Africa

ZAR

1.0%

0.5%

 

 

 

35

Greece

EUR

0.6%

0.9%

 

 

 

36

Finland

EUR

0.9%

0.7%

 

 

 

37

Austria

EUR

0.0%

0.6%

 

 

 

38

Colombia

COP

0.0%

1.1%

 

 

 

39

Argentina

ARS

0.0%

0.4%

 

 

 

40

Romania

RON

0.0%

0.5%

 

 

 

41

Denmark

DKK

0.6%

0.5%

 

 

 

42

Philippines

PHP

0.6%

0.4%

 

 

 

 

1  These weights are used for calculating the exchange rate until the end of 2008.

2  The weights previous to the revised weight, used for calculating the exchange rate in 2009.

3  The revised weights are used for recalculating the effective exchange rate from the beginning of 2010.  These weights are corrected for third-party competition.

4  When calculating the Nominal Effective Exchange Rate, the weights used were not limited to a specific number of digits past the decimal point.​

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