The exchange rate between the euro and the Bulgarian lev was unchanged during the period as the lev has been pegged to the euro since its launch in 1999. Czechia (overall appreciation of the euro of 4.3 %), Croatia (appreciation of 1.2 %) and Denmark (depreciation of 0.2 %). The remaining non-euro area Member States experienced smaller changes in their exchange rates, i.e. Table 1: Exchange rates against the euro, 2011–2021įocusing on the exchange rates of non-euro area Member States, between 20, the euro appreciated most strongly against the Hungarian forint (28.3 %), the Romanian leu (16.1 %), the Swedish krona (12.4 %) and the Polish zloty (10.8 %). At the macroeconomic level, key interest rates are generally set by central banks, as a primary tool for monetary policy with the goal of maintaining price stability. The second half of the article examines interest rates - in other words, the cost of lending/borrowing money. This article starts by considering the development of exchange rates across the EU, as well as exchange rate fluctuations between the euro and several currencies of other countries, in particular the United States dollar, Japanese yen, the United Kingdom’s pound sterling, Chinese renminbi-yuan and Swiss franc (all of which are important reserve currencies and/or commonly used for denominating international loans). As such, for most of the monetary statistics that are released by Eurostat, it is necessary to bear in mind the possible effect of currency fluctuations when making comparisons across countries for indicators denominated in euro terms, in particular when analysing time series. This information is derived by converting data in national currencies to data in euro using the exchange rates (EUR - see currency codes).
It is important to note that practically all of Eurostat’s data in monetary terms are denominated in euro, including statistics for European Union (EU) Member States that are not part of the euro area (EA) and data for other countries. This article presents an analysis of exchange rates and interest rates, which are some of Eurostat’s most frequently updated statistics.
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