Note on Euro Area Data
Data for the 17 euro area countries refer to the euro area as a whole, not to individual countries. The euro area countries are: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

Use the map to see currency undervaluation and overvaluation, in terms of both multilateral and bilateral exchange rates, over time across the globe. Click on two or more countries to get a comparison graph of exchange rates over time. Use the date slider at the bottom to select a date range, or click the play arrow to see data change over time.

Use the bottom toolbar to:

• expand map to fullscreen mode
• limit/expand number of labels
• display proportional bubbles to show relative magnitude of country data
• change map appearance
• export data

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Notes:
1) Data for the 17 euro area countries refer to the euro area as a whole, not to individual countries. The euro area countries are: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
2) Estimates for the four countries that principally export oil (Norway, Russia, Saudi Arabia, Venezuela) were not made.

The most recent data for this map stems from Policy Brief 12-23: Updated Estimates of Fundamental Equilibrium Exchange Rates by William R. Cline and John Williamson.