nominal effective exchange rate (EER) of the euro

What is nominal effective exchange rate (EER) of the euro?

nominal effective exchange rate (EER) of the euro definition and meaning on Finance terms:
Nominal euro EERs are weighted averages of bilateral euro exchange rates against the currencies of the euro area’s main trading partners. The ECB publishes nominal EER indices for the euro against the currencies of a narrow and a broad group of trading partners. The weights used reflect the share of each partner country in euro area trade. See also
effective exchange rate (EER) of the euro
real effective exchange rate (EER) of the euro<

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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