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 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, Weights
 
Number
Country
Currency code (ISO)
Original weight*
Previous weight**
Revised weight***
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%
 
 
 

 

*    These weights are used for calculating the exchange rate until the end of 2008.
**   The weights previous to the revised weight, used for calculating the exchange rate in 2009.
*** The revised weights are used for recalculating the effective exchange rate from the beginning of 2010.  These weights are corrected for third-party competition.