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Revision of Effective Exchange Rates

December 20, 2011
Bank of Japan
Research and Statistics Department

The Bank for International Settlements (BIS) has rebased its effective exchange rates (EERs) from the 2005 base year to the 2010 base year and has updated the weights of the EERs. Following this revision, the figures have been retroactively revised.

The BIS calculates the weights of the EERs every three years after the corresponding period ends, using the three-year average of the total value of trade. As a result of the current revision, the most recent weights have been updated for 2008-2010 from 2005-2007.

The BIS calculated the EERs of the Japanese yen against 56 countries (42 currencies) for the "broad-based" rates. In the current revision, they have been expanded against 59 countries (44 currencies).

Inquiries

Economic Assessment and Projection Group, Economic Research Division, Research and Statistics Department

E-mail : post.rsd51@boj.or.jp