effective exchange rate index
英[iˈfektiv iksˈtʃeindʒ reit ˈindeks]美[ɪˈfɛktɪv ɪksˈtʃendʒ ret ˈɪnˌdɛks]
Effective Exchange Rate is an index that describes the relative strength of a currency relative to a basket of other currencies. Although typically that basket is tradeweighted, the Trade Weighted Effective Exchange Rate Index is not the only effective exchange rate index discussed in the literature.