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Revised time series for the nominal and Real effective exchange rates of the rand
Page Content The South African Reserve Bank has revised the weights used in the calculation of the nominal and real effective exchange rates of the rand. The revised weights have been used in the calculation of the nominal and real effective exchange rate time series from 1 January 2005 when it was statistically linked to the previously calculated effective exchange rate time series. Data prior to 1 January 2005 will therefore not be affected by the revision exercise. The methodology for the calculation of the new weights has remained unchanged. A comprehensive note explaining the methodology and related issues will be included in the December 2008 Quarterly Bulletin to be released on 9 December 2008. Below is a table comparing the previous and revised weights.
Comparison between previous and revised weights
Country/Area |
Previous weight |
Revised weight |
Euro area |
36,38 |
34,82 |
United States |
15,47 |
14,88 |
China |
3,14 |
12,49 |
United Kingdom |
15,37 |
10,71 |
Japan |
10,43 |
10,12 |
Switzerland |
5,54 |
2,83 |
Australia |
1,68 |
2,04 |
Sweden |
1,81 |
1,99 |
India |
- |
2,01 |
Republic of Korea |
2,64 |
1,96 |
China, Hong Kong SAR |
2,70 |
1,48 |
Singapore |
1,66 |
1,40 |
Brazil |
- |
1,37 |
Israel |
1,22 |
1,11 |
Zambia |
- |
0,80 |
Canada |
1,96 |
- |
Total |
100,00 |
100,00 |
Historical information for the revised time series is available at this link
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