Multilateral Exchange Rate Indices (ITCRM)

Multilateral Real Exchange Rate Index (ITCRM) and Bilateral

This index measures the relative price of goods and services in the Argentine economy with respect to those of the country’s 12 main trading partners, based on the flow of trade in manufactures.

It is obtained from a weighted average of the bilateral real exchange rates of the country’s main trading partners. The evolution of the prices of the representative consumption baskets of the trading partners expressed in local currency in relation to the value of the local consumption basket is considered, constituting one of the broad measures of competitiveness (price).

The ITCRM is prepared and published on a daily basis, based on the prices of the currencies at 3 p.m. each day and contemplates a mechanism for the diarization of the estimates and the replication of the latest data of the representative price indices for information not yet known.

Note: Weighted by manufacturing trade (12-month moving averages. Current weightings: Brazil: 32%; United States: 12%; China: 16%; Euro area: 19%) Source: BCRA, INDEC, Statistical Directorates of the Province of San Luis and the City of Aut. of Buenos Aires, Thomson Reuters and REM-BCRA

Multilateral Nominal Exchange Rate Index (ITCNM) and Bilateral

This index measures the nominal evolution of the exchange rate of the Argentine peso relative to the currencies of the country’s 12 main trading partners, based on the flow of trade in manufactures.

It is obtained from a weighted average of the bilateral nominal exchange rates of the country’s main trading partners and constitutes a broad nominal reference – and more appropriate than the US peso-dollar parity – for macroeconomic analysis.

The ITCNM is calculated and published on a daily basis, based on the contributions of 3 p.m. of every day.

Note: Weighted by manufacturing trade (12-month moving averages. Current weightings: Brazil: 32%; United States: 12%; China: 16%; Euro area: 19%) Source: BCRA, INDEC and Thomson Reuters

Records

Multilateral Real Exchange Rate Index (ITCRM)
Download the historical series (xlsx)
ITCRM Methodology (pdf)
Previous ITCRM methodologies

Multilateral Nominal Exchange Rate Index (ITCNM)
Download the historical series (xlsx)
ITCNM methodology (pdf)