China: Real effective exchange rate index (2010 = 100)

Key figures

What the numbers say

In 2025, China's real effective exchange rate index (2010 = 100) fell 3.29 on 2024 (from 113.39 to 110.09).

Across the 30 yearly changes before that (1995 to 2024), the average change was +1.43 and a typical year strayed about 4.94 from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 19.17 in 1989 and the biggest yearly fall was 47.72 in 1986. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is downward, about 1.04 a year. A straight line explains 37% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, China had the 35th highest value of the 91 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to China in the 2025 ranking

• Antigua and Barbuda — 31st of 91: 111.94
• Georgia — 32nd of 91: 110.66
• United Kingdom — 33rd of 91: 110.65
• Austria — 35th of 91: 109.96
• Paraguay — 36th of 91: 109.43
• Togo — 37th of 91: 107.69

What this measures

Real effective exchange rate is the nominal 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. This indicator is an index series where 2010=100.

Limitations: Because of conceptual and data limitations, changes in real effective exchange rates should be interpreted with caution.

All 46 values

Real effective exchange rate index (2010 = 100) in nearby economies

• Australia — 89.97 (2025)
• Fiji — 107.33 (2025)
• Hong Kong SAR, China — 125.88 (2021)
• Japan — 56.07 (2025)
• Korea, Rep. — 138.98 (2021)
• Malaysia — 85.43 (2025)
• New Zealand — 102.13 (2025)
• Papua New Guinea — 116.1 (2025)
• Philippines — 112.49 (2025)
• Samoa — 115.71 (2025)

More financial sector data for China

• GDP deflator (base year varies by country) — 104.18 (2025)
• DEC alternative conversion factor (LCU per US$) — US$7.19 (2025)
• Official exchange rate (LCU per US$, period average) — US$7.19 (2025)
• Inflation, GDP deflator (annual % growth) — -0.92% (2025)
• Net domestic credit (current LCU) — 353.25 trillion (2024)
• Net foreign assets (current LCU) — 30.27 trillion (2024)
• Monetary sector credit to private sector (% of GDP) — 194.31% (2024)
• Broad money (current LCU) — 306.91 trillion (2024)
• Broad money (% of GDP) — 227.67% (2024)
• Broad money to total reserves ratio

Reading data like this

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Questions people ask

What is China's real effective exchange rate index (2010 = 100)?

110.09 in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1980?

It is down 59.22% from 269.95 in 1980 (1.97% a year on average, compounded). The highest value was 269.95 in 1980 and the lowest 70.57 in 1994.

How does China rank?

35th highest of 91 economies with data for 2025.

Is the latest change in real effective exchange rate index (2010 = 100) unusual for China?

In 2025, China's real effective exchange rate index (2010 = 100) fell 3.29 on 2024 (from 113.39 to 110.09). Across the 30 yearly changes before that (1995 to 2024), the average change was +1.43 and a typical year strayed about 4.94 from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator PX.REX.REER, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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