15 EFFECTIVE EXCHANGE RATE INDICES OF THE PESO                                
  1980 = 100                                        
  period averages                                        
                                             
   
   N O M I N A L R  E  A  L  
  Overall 1 % growth rate (y-o-y) Trading Partners Overall 1 % growth rate (y-o-y) Trading Partners  
   Advanced 2 % growth rate (y-o-y) Developing 3 % growth rate (y-o-y)  Advanced 2 % growth rate (y-o-y) Developing 3 % growth rate (y-o-y)  
                                             
   
  2011 14.42 -0.71 11.12 -1.16 23.98 -0.39 81.08 0.64 70.63 1.62 112.97 -0.04  
  2012 14.92 3.49 11.61 4.42 24.67 2.85 84.60 4.34 75.09 6.31 116.35 3.00  
  2013 15.26 2.28 12.38 6.62 24.45 -0.86 87.10 2.96 81.25 8.21 115.40 -0.82  
  2014 14.92 -2.23 12.24 -1.16 23.72 -2.99 86.44 -0.76 81.79 0.66 113.37 -1.76  
  2015 15.68 5.06 13.25 8.25 24.39 2.80 90.69 4.91 88.82 8.61 115.98 2.30  
   
  2016 15.00 -4.30 12.15 -8.29 24.03 -1.47 86.98 -4.08 82.15 -7.51 114.06 -1.66  
  January 15.41 -1.41 12.65 -4.33 24.45 0.65 91.78 -1.81 88.95 -4.15 118.22 -0.12  
  February 15.18 -4.22 12.41 -7.64 24.17 -1.79 88.39 -5.02 85.43 -7.54 114.07 -3.20  
  March 15.30 -3.96 12.54 -7.82 24.32 -1.17 88.56 -4.43 85.27 -7.45 114.60 -2.25  
  April 15.24 -3.87 12.44 -8.51 24.27 -0.50 88.68 -4.19 84.62 -7.98 115.45 -1.44  
  May 15.16 -3.76 12.28 -8.76 24.27 -0.14 88.20 -3.65 82.95 -8.01 115.99 -0.53  
  June 15.20 -3.47 12.24 -9.13 24.46 0.67 88.74 -3.00 82.89 -8.08 117.24 0.67  
  July 14.98 -4.97 12.05 -10.32 24.09 -1.08 86.51 -4.50 81.25 -9.28 113.86 -1.05  
  August 14.94 -4.57 11.96 -9.05 24.12 -1.39 85.83 -4.13 79.94 -8.06 113.62 -1.38  
  September 14.75 -4.93 11.80 -8.06 23.81 -2.81 84.43 -4.20 78.40 -6.87 112.00 -2.43  
  October 14.59 -6.18 11.71 -9.56 23.53 -3.86 83.75 -5.49 77.81 -8.56 111.05 -3.41  
  November 14.62 -5.51 11.78 -9.30 23.51 -2.85 84.30 -4.72 78.82 -8.24 111.30 -2.27  
  December 14.74 -4.51 12.04 -6.52 23.47 -3.17 84.86 -3.69 80.28 -5.52 111.14 -2.47  
  15.03 12.17 24.09 87.20 82.39 114.31  
  2017 14.13 -5.82 11.51 -5.23 22.54 -6.19 83.05 -4.53 79.07 -3.75 108.35 -5.01  
  January 14.70 -4.64 11.99 -5.24 23.43 -4.18 88.03 -4.09 85.16 -4.26 113.72 -3.80  
  February 14.48 -4.59 11.83 -4.64 23.08 -4.50 85.70 -3.04 82.74 -3.15 110.85 -2.82  
  March 14.37 -6.14 11.75 -6.31 22.87 -5.95 84.54 -4.54 81.32 -4.63 109.62 -4.35  
  April 14.41 -5.42 11.73 -5.71 23.01 -5.19 85.30 -3.81 81.20 -4.04 111.30 -3.60  
  May 14.39 -5.06 11.73 -4.51 22.96 -5.39 84.90 -3.74 80.57 -2.87 111.00 -4.30  
  June 14.29 -6.02 11.61 -5.08 22.83 -6.63 84.34 -4.95 79.81 -3.71 110.46 -5.78  
  July 14.04 -6.27 11.41 -5.38 22.44 -6.86 81.93 -5.29 77.91 -4.10 106.97 -6.06  
  August 13.82 -7.47 11.17 -6.64 22.17 -8.06 80.28 -6.47 75.61 -5.41 105.43 -7.21  
  September 13.73 -6.89 11.15 -5.57 21.96 -7.77 79.81 -5.48 75.22 -4.04 104.77 -6.46  
  October 13.75 -5.79 11.20 -4.29 21.94 -6.76 80.30 -4.11 75.96 -2.38 105.19 -5.27  
  November 13.78 -5.79 11.28 -4.25 21.92 -6.76 80.71 -4.25 76.72 -2.66 105.41 -5.28  
  December 13.89 -5.76 11.41 -5.28 22.07 -5.99 81.09 -4.44 77.16 -3.89 105.84 -4.77  
  14.16 11.53 22.60 83.26 79.29 108.61  
  2018 13.30 -5.88 10.83 -5.88 21.22 -5.88 80.84 -2.65 77.01 -2.60 105.44 -2.69  
  January 13.62 -7.32 11.19 -6.64 21.62 -7.73 83.14 -5.55 80.95 -4.95 106.99 -5.92  
  February 13.18 -9.03 10.77 -8.94 20.98 -9.08 79.43 -7.31 77.00 -6.94 102.50 -7.53  
  March 13.07 -9.04 10.65 -9.37 20.85 -8.83 78.91 -6.66 75.70 -6.91 102.47 -6.52  
  April 13.08 -9.23 10.71 -8.67 20.81 -9.57 79.69 -6.58 76.46 -5.84 103.47 -7.03  
  May 13.26 -7.86 10.90 -7.02 21.04 -8.36 80.47 -5.22 77.07 -4.34 104.60 -5.76  
  June 13.14 -8.03 10.77 -7.25 20.89 -8.51 80.24 -4.87 76.55 -4.09 104.55 -5.35  
  July 13.25 -5.59 10.75 -5.77 21.20 -5.49 80.30 -1.99 76.21 -2.18 104.96 -1.87  
  August 13.36 -3.35 10.81 -3.24 21.41 -3.42 81.06 r 0.97 76.38 r 1.02 106.43 0.95  
  September 13.21 -3.77 10.68 -4.16 21.19 -3.54 80.44 0.80 75.60 0.50 105.79 0.98  
  October 13.29 -3.35 10.75 -4.04 21.30 -2.92 81.25 r 1.19 76.29 r 0.44 106.93 1.65  
  November 13.60 -1.31 11.04 -2.16 21.74 -0.79 83.11 2.96 78.38 2.17 109.06 3.46  
  December 13.56 -2.42 11.03 -3.31 21.66 -1.86 82.13 r 1.28 77.55 r 0.50 107.70 1.76  
  13.29 10.87 21.15 80.49 77.88 103.99  
  2019 13.51 1.68 11.02 1.39 21.54 1.86 84.13 4.51 81.19 4.24 108.86 4.68  
  January 13.48 -1.01 10.94 -2.27 21.57 -0.23 85.05 r 2.30 81.79 r 1.04 110.29 r 3.08  
  February 13.53 2.69 11.07 2.69 21.54 2.68 83.84 r 5.55 81.29 r 5.57 108.17 r 5.54  
  March 13.52 3.47 11.06 3.92 21.52 3.19 83.49 5.81 80.48 6.31 108.11 5.50  
                                             
   
  1 Australia, Euro Area, U.S., Japan, Hong Kong, Taiwan, Thailand, Indonesia, Malaysia, Singapore, South Korea, China, Saudi Arabia, and U.A.E.  
  2 U.S., Japan, Euro Area, and Australia  
  3 Hong Kong, Taiwan, Thailand, Indonesia, Malaysia, Singapore, South Korea, China, Saudi Arabia, and U.A.E  
  r Revised  
  Source:  Bangko Sentral ng Pilipinas