Real effective exchange rate index

REER_INDEX

Monthly

Chained index of the rouble's real effective exchange rate, January 2024 = 100.

Latest value

117.4

Period August 2026 · Published Oct 16, 2026, 02:00 PM MSK

Revised since first published

-8.84on the previous reading

-3.98on a year earlier

History

Date	Value
August 2026	117.4	revised
July 2026	126.3	revised
June 2026	132.6	revised
May 2026	132.1	revised
April 2026	126.0	revised
March 2026	122.1	revised
February 2026	126.3	revised
January 2026	125.9	revised
December 2025	123.7	revised
November 2025	121.2	revised
October 2025	120.0	revised
September 2025	117.0	revised

How to read it

The level means nothing on its own; what matters is the comparison with its own history. A rise means the rouble has strengthened after allowing for inflation differentials, and therefore that export price competitiveness has weakened. The base is arbitrary: do not compare this index with one from another source, which will have its own.

How it is measured

The Bank of Russia publishes the real effective exchange rate only as a change on the previous month, so the level is chained: each month multiplies the one before it. The base — January 2024 = 100 — is a fixed calendar month rather than the earliest observation held, so loading earlier history extends the series backwards from the same base and leaves published values untouched. A gap in the input breaks the chain rather than being stepped over.

Where this comes from

Type: Calculated on this site
Calculated from: Real effective exchange rate, change on previous period
Frequency: Monthly