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What is real effective exchange rate (REER)?

REER is the real 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.

An increase in REER implies that exports become more expensive and imports become cheaper; therefore, an increase indicates a loss in trade competitiveness.

REER data may be accessed through the International Financial Statistics (IFS) dataset portal here.

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