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Revision in the treatment of foreign exchange rate movement

February 23, 2005
Bank of Japan
Research and Statistics Department

The Bank of Japan will change the treatment of foreign exchange rate movement in converting the "contract currency basis" index to the "yen basis" index from the January 2005 figures, which are scheduled to be released in March 2005.1, 2

Details are as follows

.

(Old treatment)

  • When sample prices are contracted in foreign currencies, they are converted to a yen basis for the yen-basis index compilation using monthly average spot exchange rates (foreign currency buying rates for exports and selling rates for imports) as quoted by banks to customers in each corresponding month.

(New treatment)

  • When sample prices are contracted in foreign currencies, they are converted to a yen basis for the yen-basis index compilation using monthly average spot exchange rates (middle rates) as quoted by banks to customers in each corresponding month.

For any inquiries, please contact the following group of the Bank of Japan.

Price Statistics Section, Research and Statistics Department

Fax: +81-3-3279-2900
E-mail: post.rsd3@boj.or.jp

  1. The CGPI will be released on March 10, and the CSPI will be released on March 25.
  2. The old and new indexes are linked in a way no index level changes occur by this revision.