The methodology used to compute the trade weights on which the ECB nominal and real effective exchange rates (EERs) are based is described in detail in the paper: The ECB’s enhanced effective exchange rates and harmonised competitiveness indicators.

For further information, refer to the methodological details available on the ECB website:

Euro foreign exchange reference rates

Nominal effective exchange rate

Harmonised competitiveness indicators

Last updated: 26 January 2026 16:17 CET