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Spain – Real Effective Exchange Rate

Real effective exchange rate index (2010 = 100). Nominal effective exchange rate adjusted for relative consumer price levels. A rise indicates real appreciation. · BIS

103.24 +0.89 from 2025 G20 rank: 30th · all-time high: 107.90 (1991)

APA

Spain Real Effective Exchange Rate. HistorySaid. Retrieved March 10, 2026, from https://historysaid.com/spain/reer

BibTeX

@misc{historysaid_spain_reer,
  title = {Spain Real Effective Exchange Rate},
  url = {https://historysaid.com/spain/reer},
  publisher = {HistorySaid},
  year = {2026}
}

Data & Projection▾

Year	Value	Change	Rank
2029* trend	108.59	–	–
2028* trend	106.68	–	–
2027* trend	104.77	–	–
2026	103.24	+0.89	30th
2025	101.82	+0.99	32nd
2024	97.26	−2.94	38th
2023	96.67	−3.44	36th
2022	96.29	−4.55	41st
2021	97.28	−2.72	43rd
2020	96.36	−3.47	37th
2019	95.94	−5.52	37th
2018	97.86	−1.95	46th
2017	95.96	−2.57	40th
2016	94.67	−3.33	36th
2015	93.87	−9.05	36th
2014	99.25	−4.19	50th
2013	99.76	−2.14	50th
2012	97.97	−6.16	44th
2011	100.40	−3.14	59th
2010	100.00	−6.70	37th
2009	103.78	−3.23	74th
2008	103.92	−1.37	71st
2007	102.02	−1.80	69th
2006	100.46	−2.07	63rd
2005	99.13	−2.99	53rd
2004	98.70	−1.30	59th
2003	96.77	+1.40	51st
2002	92.18	−0.89	38th
2001	90.11	−1.13	33rd
2000	88.46	−5.00	31st
1999	90.38	−3.25	35th
1998	90.98	−1.60	26th
1997	90.49	−6.64	22nd
1996	94.66	−0.98	33rd
1995	92.77	−1.64	32nd
1994	91.13	−3.82	34th
1993	95.54	−10.84	31st
1992	107.34	+0.27	49th
1991	107.90	+2.04	49th
1990	107.29	+6.87	44th
1989	100.27	+6.31	31st
1988	94.51	+5.02	21st
1987	90.25	+1.99	17th
1986	86.72	+0.53	9th
1985	81.51	−3.10	6th
1984	80.00	−1.16	6th
1983	77.67	−14.16	3rd
1982	88.54	−3.15	7th
1981	88.71	−5.93	11th
1980	94.03	−4.11	13th
1979	98.14	+12.98	16th
1978	85.16	+0.85	4th
1977	84.31	+0.07	3rd
1976	84.25	+0.72	2nd
1975	83.53	+1.13	1st
1974	82.40	+4.40	2nd
1973	78.00	+2.22	2nd
1972	75.78	+2.16	2nd
1971	73.61	+0.56	3rd
1970	73.06	+0.26	3rd
1969	72.80	−1.20	3rd
1968	74.00	−7.89	3rd
1967	81.89	+1.49	5th
1966	80.40	+2.09	5th
1965	78.31	+6.78	4th
1964	71.52	–	4th

Show all years (1964–2026)

* Linear trend extrapolation from last 5 data points

Detected Pattern▾

Export Boom Cycle

Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.

Reserves YoY +11.0% GDP growth 2.5% C/A balance 2.7%

This pattern occurred 682 times in G20 history, 460 successful

United Arab Emirates 2024

Reserves YoY

+25.6%

GDP growth

4.0%

C/A balance

14.5%

Guatemala 2024

Reserves YoY

+14.6%

GDP growth

3.7%

C/A balance

2.9%

Cambodia 2024

Reserves YoY

+12.6%

GDP growth

6.0%

C/A balance

0.5%

Sri Lanka 2024

Reserves YoY

+38.3%

GDP growth

5.0%

C/A balance

1.2%

Lesotho 2024

Reserves YoY

+18.0%

GDP growth

2.9%

C/A balance

3.9%

Lithuania 2024

Reserves YoY

+20.1%

GDP growth

2.8%

C/A balance

3.3%

HistorySaid – pattern alert

Spain matched the Export Boom Cycle pattern in 2023. Historically, 67% of countries showing this pattern (460 out of 682) saw real effective exchange rate improve within 24 months. View full analysis →