Exchange rate against US-Dollar (USD) and Swiss Franc (CHF)
An exchange rate reflects the price of a nation’s currency in terms of another currency. It is determined by the supply of, and demand for, the given currency on foreign exchange markets. The exchange rate indicates how competitive a currency area is on a global scale. The nominal exchange rate is the rate at which one currency can be converted, or exchanged, into another currency. The real exchange rate indicates the relative price of consumption in one country compared with that in another country, based on two representative consumption baskets. The real exchange rate therefore equals the nominal exchange rate adjusted for inflation.
The data shows the euro reference rates of the ECB, which are published by the ECB daily at 4:00 p.m. These rates are nominal exchange rates.