Singapore - Real effective exchange rate index (2010 = 100)

The value for Real effective exchange rate index (2010 = 100) in Singapore was 103.47 as of 2021. As the graph below shows, over the past 42 years this indicator reached a maximum value of 112.02 in 2013 and a minimum value of 83.74 in 1988.

Definition: Real effective exchange rate is the nominal effective exchange rate (a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs.

Source: International Monetary Fund, International Financial Statistics.

See also:

Year Value
1979 96.26
1980 95.92
1981 101.42
1982 106.35
1983 107.68
1984 109.44
1985 106.74
1986 91.01
1987 85.42
1988 83.74
1989 87.51
1990 93.04
1991 96.06
1992 97.73
1993 98.00
1994 102.53
1995 104.26
1996 107.21
1997 108.56
1998 105.91
1999 98.69
2000 98.53
2001 99.03
2002 96.46
2003 93.07
2004 92.03
2005 90.60
2006 91.82
2007 92.25
2008 97.01
2009 97.03
2010 100.00
2011 105.17
2012 110.04
2013 112.02
2014 111.29
2015 108.34
2016 108.12
2017 106.80
2018 106.20
2019 106.46
2020 103.71
2021 103.47

Development Relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world.

Limitations and Exceptions: Because of conceptual and data limitations, changes in real effective exchange rates should be interpreted with caution.

Statistical Concept and Methodology: The real effective exchange rate is a nominal effective exchange rate index adjusted for relative movements in national price or cost indicators of the home country, selected countries, and the euro area. A nominal effective exchange rate index is the ratio (expressed on the base 2010 = 100) of an index of a currency's period-average exchange rate to a weighted geometric average of exchange rates for currencies of selected countries and the euro area. For most high-income countries weights are derived from industrial country trade in manufactured goods. Data are compiled from the nominal effective exchange rate index and a cost indicator of relative normalized unit labor costs in manufacturing. For selected other countries the nominal effective exchange rate index is based on manufactured goods and primary products trade with partner or competitor countries. For these countries the real effective exchange rate index is the nominal index adjusted for relative changes in consumer prices; an increase represents an appreciation of the local currency.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices