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Revised Currency Baskets

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The weights of currencies in the baskets used to calculate the trade-weighted exchange rate indices have been updated. The weights are determined based on Iceland’s external trade in 2019. The last review was carried out at the beginning of 2020. On a special webpage you can find the tables that show the new baskets and the changes resulting from the review. The revised baskets will be used as of 1 January 2021 and will remain in use until the next annual review.

The weights are determined based on the composition of Iceland’s external trade during the previous year. The aim is that the baskets reflect as closely as possible the composition of Iceland’s external trade in goods and services. Currency selection is based on the three-year average of a country’s share in Iceland’s goods and services trade.

See further here: Revised Currency Baskets.

This news item was originally published by the Central Bank of Iceland (CB IS). For more information, please see the Source Link.

Regulator Information

Regulator Name: Central Bank of Iceland
Abbreviation: CB IS
Jurisdiction: Iceland

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