Rebased series of Effective Exchange Rate Index for Hong Kong Dollar
********************************************************************
The weights for each currency in the existing series of EERI have been based on the average merchandise trade pattern of Hong Kong from 2009 to 2010. To reflect the more up-to-date situation, the weights in the rebased series are updated based on the average merchandise trade pattern from 2019 to 2020. The weights used in the existing and rebased series are shown in the Annex. The rebased EERI series will include the following 18 currencies, with Macao Pataca, Indonesian Rupiah and South African Rand added:
| * Australian Dollar | * Japanese Yen | * Korean Won |
| * Canadian Dollar | * Macao Pataca | * Singapore Dollar |
| * Chinese Renminbi | * Malaysian Ringgit | * South African Rand |
| * Euro | * New Taiwan Dollar | * Swiss Franc |
| * Indian Rupee | * Philippine Peso | * Thai Baht |
| * Indonesian Rupiah | * Pound Sterling | * U.S. Dollar |
The rebased series of EERI, with the base period January 2020 as 100 (i.e. using the daily average exchange rate of January 2020 as basis for comparison), will replace the existing series (with the base period January 2010 as 100) as from January 3, 2022. Same as the existing series, the rebased series of EERI will be released on a daily basis except for non-trading days (i.e. public holidays and when banks close for business for reasons such as typhoon).
In the rebased EERI series, figures dating back to January 2, 2020, are recompiled using the new currency weights, while those for earlier periods are derived based on movements in the old series and using a conversion factor obtained from the values of the two index series in an overlapping period.
Further information
More details on the rebased series of EERI will be provided in a feature article in the January 2022 issue of "Hong Kong Monthly Digest of Statistics" which will be available in mid-January 2022. Users can download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1010002&scode=460).
Enquiries on EERI may be directed to the Trade Analysis Section (1) of the C&SD (Tel: 2582 4914).
Ends/Thursday, December 23, 2021
Issued at HKT 16:30
Issued at HKT 16:30
NNNN