Reference and spot rates are euro foreign exchange rates observed on major foreign exchange trading venues at a certain point in time. In other words, they are the price of one currency in terms of another currency. The rates are usually updated around 16:00 CET on every working day, except on TARGET closing days. Reference rates are based on a regular daily concertation procedure between central banks across Europe, which normally takes place at 14:15 CET.
The purpose of effective exchange rates (EERs) and harmonised competitiveness indicators (HCIs) is to provide meaningful and comparable measures of euro area countries' price and cost competitiveness, which depend not only on exchange rate movements but also on cost and price trends. EERs are geometrically weighted averages of the bilateral exchange rates of the given currency against the currencies of the euro area’s main trading partners. HCIs are constructed using the same methodology and data sources as the euro EERs.
Deflators for the real EERs and real HCIs are:
Nominal EERs | Real CPI-deflated EERs | Real PPI-deflated EERs | Real GDP deflators-deflated EERs | Real ULCT-deflated EERs | Real EERs ULCM-deflated EERs | Nominal EERs calculated by the European Commission | Real EERs CPI-deflated calculated by the European Commission
|Dataset||Browsing and Excel export||XML export||Calendar|
|EXR - Exchange rates||Data||Bulk download||Release calendar|
|Macroeconomic Imbalances Procedure|
|Selected euro area statistics and national breakdowns|