Exchange rates, gold prices

The Bundesbank’s exchange rate statistics are a collection of current and historical exchange rates. These include, for example, the historical DM exchange rates of the Frankfurt Stock Exchange for the time period from 1953 up to the end of 1998 and, as of 1999, the ECB's reference exchange rates for the euro. For member states of the euro area, irrevocable euro exchange rates were set when the euro was introduced. In particular, the Statistical Supplement “Exchange rate statistics” contains information on the exchange rates and currencies from over 190 different countries as well as information on special drawing rights, exchange rate arrangements, other parities and central rates; this supplement is the only collection of its kind in Germany.

The indices of the nominal effective exchange rates of the euro are designed to measure the impact of changes in exchange rates on price competitiveness in the euro-area industrial sector. These indices are calculated on the basis of the weighted averages of the relative changes in the bilateral euro exchange rates against the currencies of the euro-area trading partners. A positive change indicates an appreciation of the euro and thus a negative impact on the price competitiveness of the domestic industrial sector. The weights are based on the trade in manufactured goods and also reflect third-market effects. The real effective exchange rates of the euro also take account of the differences in price movements between the countries under review.

The indicators of price competitiveness of the German economy are designed to measure price developments in Germany in relation to those of foreign competitors, taking exchange rate changes into account. They are calculated as weighted averages of the relative changes in the bilateral exchange rates of the euro against the currencies of Germany's trading partners while taking into account the different price developments in the countries under review. A positive change signifies lower price competitiveness for domestic goods. The weights are based on the trade in manufactured goods and also include third-market effects. The calculation method corresponds to the ECB's concept for the real effective exchange rates (ECB Monthly Bulletin, June 2008, page S 91-S 92).

The daily gold prices provided in our statistics date back to 1968. In London gold is trading at US$ … per troy ounce and in Frankfurt am Main at DM/euro … per kilogram.