Philippines Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Philippines's real effective exchange rate was 97.47 in 2026 (projected), ranked 11th globally. This represents a 2.9% decrease from 2025. Data from BIS, covering 1979–2026.
Overview
Philippines's real effective exchange rate stood at 97.47 in 2026, a decline of +2.86 from 2025. Based on recent trends, this figure is projected to reach 95.67 by 2027. Philippines ranked 11th globally.
The Philippines' real effective exchange rate has experienced significant fluctuations over the past 48 years, with the all-time peak of 132.48 in 1982 and a trough of 76.02 in 2004. This volatility indicates the country's vulnerability to external economic shocks and exchange rate fluctuations. As of 2026, the real effective exchange rate stands at 97.47, placing the Philippines at the 11th position globally. In comparison, Luxembourg's real effective exchange rate is slightly lower at 96.82, while Denmark's rate is marginally higher at 97.59. Notably, the Philippines' exchange rate has been trending upwards since the trough in 2004, albeit at a moderate pace. This upward trend is consistent with the country's growing economic integration with the global economy and increasing trade volumes. A significant shift in global trade policies or an abrupt change in capital flows could alter the trajectory of the Philippines' real effective exchange rate, potentially leading to further appreciation or depreciation.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2029* trend | 88.20 | - | - |
| 2028* trend | 91.94 | - | - |
| 2027* trend | 95.67 | - | - |
| 2026 | 97.47 | −2.86 | #11 |
| 2025 | 100.33 | −1.52 | #21 |
| 2024 | 113.68 | +12.33 | #81 |
| 2023 | 113.10 | +14.72 | #78 |
| 2022 | 109.75 | +9.69 | #81 |
| 2021 | 111.12 | +11.12 | #89 |
| 2020 | 111.27 | +16.74 | #88 |
| 2019 | 105.39 | +15.20 | #78 |
| 2018 | 100.61 | +7.86 | #63 |
| 2017 | 103.45 | +6.19 | #72 |
| 2016 | 108.40 | +7.82 | #82 |
| 2015 | 111.49 | +16.15 | #86 |
| 2014 | 106.32 | +10.52 | #81 |
| 2013 | 107.60 | +14.90 | #87 |
| 2012 | 104.76 | +16.57 | #78 |
Detected Pattern
Analysis
Philippines matched the Export Boom Cycle pattern in 2012. Historically, 71% of countries showing this pattern (546 out of 768) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Philippines's real effective exchange rate was 97.47 in 2026. Ranked 11th globally. This represents a 2.9% decrease from the previous year.
Philippines's real effective exchange rate peaked at 132.48 in 1982.
The lowest real effective exchange rate in Philippines was 76.02 in 2004.
Philippines ranks 11th globally in real effective exchange rate as of 2026.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Philippines's real effective exchange rate is projected to reach 95.67 by 2027 based on trend extrapolation.
The real effective exchange rate of Philippines in 2026 was 97.47. This ranks 11th in the world.
Cite this page
@misc{historysaid_philippines_reer,
title = {Philippines Real Effective Exchange Rate},
url = {https://historysaid.com/philippines/reer/},
publisher = {HistorySaid},
year = {2026}
}