Euro/Ecu exchange rates - monthly data
methods, notes and classification
DATA_DESCR The present data collection consists of the following indicators: Interest rates: central bank interest rates, day-to-day money market interest rates, 3-month interest rates, euro yields, long-term government bond yields. Exchange rates: euro/ECU exchange rates, nominal effective exchange rates, real effective exchange rates. Monetary aggregates: money supply, loans by MFIs. Financial aggregates: foreign official reserves including gold, stock market capitalisation, share price indices.
CLASS_SYSTEM Not applicable for most series - see section 3.4 below for concepts and definitions specific to each series. Harmonised series on monetary aggregates and foreign official reserves comply with ECB classifications on monetary statistics and IIP (international investment position) statistics respectively.
STAT_CONC_DEF Interest rates Definitions and concepts relating to short-term interest rates follow recognised international norms. Central bank interest rates: key reference rates set by the European Central Bank and national central banks. The rates are grouped into 3 series: marginal lending facility, main refinancing operations, and deposit facility. Day-to-day money market interest rates: euro area (EONIA - Euro OverNight Index Average) and national series. 3-month interest rates: euro area (EURIBOR) and national series. Euro yields: series are based on "AAA-rated" zero-coupon euro area central government bonds. The series comprise 3 maturities – 1 year, 5 years, and 10 years. Long-term interest rates: definition used is the convergence criterion for EMU (monthly average of central government bond yields on the secondary market, gross of tax, with around 10 years' residual maturity). The series are harmonised for all the Member States apart from Estonia. The Estonian series is not harmonised and is not available in this collection, but is published by the ECB. The series of Luxembourg is fully harmonised only from June 2010. Exchange rates Exchange rates against the euro (ECU before January 1999): monthly average and end-month rates of the euro/ECU against a range of currencies. Euro rates are reference rates, ie. mid-rate, as published by the ECB (excluding MKD/euro rate which is sent to Eurostat by the national central bank). The number of significant digits used may vary between the currencies, reflecting market conventions. However, in most cases five significant digits are used. Nominal and real effective exchange rates: monthly average trade-weighted effective rates. For the real rate, consumer prices are used as deflator. Monetary aggregates The series are derived from the balance sheets of monetary financial institutions, who report the data monthly to the ECB in accordance with ECB regulations. Money supply: M1, M2, and M3 data are end-month amounts in euro (NSA and SA), monthly percent changes (SA), and annual percent changes (NSA). Loans to residents by monetary financial institutions: end-month amounts in euro and annual percent changes. The total is broken down into general government and other residents. Financial aggregates Stock market capitalisation: end-month amounts in euro, calculated by multiplying the volume of shares quoted on the stock market by their market value. The series covers common and preferred shares, and shares without voting rights. Excluded are investment funds; rights, warrants, convertible instruments; options, futures; listed foreign shares and companies whose only business goal is to hold shares of other listed companies. Share price indices: monthly average indices for European and national share price indices, rebased to a common base period. Specific compilation rules apply to each index. Foreign official reserves, including gold: end-month amounts in euro. Foreign official reserves of countries not belonging to the euro area include holdings denominated in euro or its former national denominations.
STAT_UNIT Financial institutions.
STAT_POP Financial institutions.
REF_AREA Euro area, EU aggregates and Member States. For some series data are available for Iceland, Norway, Switzerland, Croatia, FYROM, Turkey, USA, and Japan. In the stock market capitalisation series, since 2001 EURONEXT replaces the national series of Belgium, France and the Netherlands, and from 2002 onwards also Portugal.
BASE_PER Effective exchange rates: first quarter of 1999 = 100. Share price indices: 1995 =100.
UNIT_MEASURE Various, depending on the series. Interest rates are expressed in percentages per annum. Euro yields and long-term interest rates refer to the yield to maturity.
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