چکیده:
The bilateral exchange rate as one of the key economic variables and an important factor which is affecting on relative prices, de facto has been matter of interest for economic policymakers. The real effective exchange rate that reflects the weighted average value of a domestic currency relative to an index or basket of other major currencies, adjusted for the effects of inflation is deemed as paramount criteria to measure the international competitiveness per se. In this context, an increase in the real exchange rate as compared with the base year, designate the appreciation of domestic currency against the currencies of trading partners which in proportion to the composion of commercial goods in the country can in turn bear a negative impact on its trade balance in toto. In this paper, an attempt is made to estimate the real and nominal effective exchange rate in consonance with the approach of International Monetary Funds, for the period of 2012-2014 with respect to base year of 2011, using the official and free market rates quid pro qua. The results prima facie indicate that both the real and nominal effective exchange rates have depreciated during the period of study. Thus, we can conclude that, due to sever and significant depreciation of rials against American Dollars during the sample period and increasing domestic inflation compared to external inflation, the real effective value of Rials against the weighted average value of currencies of Iran’s main trading partners, depreciated and as a result, the competitive power of Iran versus to her trade partners with respect to the base year has not considerably changed, sui generis.
خلاصه ماشینی:
Later, in studies conducted by Bayoumi, Lee, and Jayanthi 2 (2005), the weight used in calculating the effective exchange rate based on the consumer price index of goods and services was modified in a modern way, and its equations were modified from the Dack and Tokarick calculation framework in a new manner: (Refer to page image) ______________________________________________________ 1.
Given the importance of the subject of national competitiveness and the analysis and evaluation of the country's situation in comparison with trading partners in making the country's trade and exchange rate policies in the coming years, the focus of this study is on calculating the nominal and real effective exchange rates as one of the criteria for measuring competitiveness using the International Monetary Fund's computational approach during the period 1387-1393 and analyzing the trend of its transformations.
Changes in the real effective exchange rate reflect the developments in domestic and foreign prices and the relative cost of goods against main trading partners; therefore, in economic texts, despite certain limitations in the indicator under study (such as different methods of calculating the total cost of goods in different countries and the non-comparability of data), it is used as one of the criteria for measuring competitiveness.
The real effective exchange rate, in which the value of the country's currency unit is adjusted according to the ratio of domestic and foreign prices, the weighted effect of the share of the country's main trading partners, and the bilateral parity relationship of the relevant currencies, can be a more suitable indicator Calculation of Nominal and Real Effective Exchange Rates in the Iranian Economy Mohammad Akbari Abstract The bilateral exchange rate, as one of the key variables of the economy and a factor affecting relative prices, has always been of interest to economic policymakers.
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