Could someone explain how the effective exchange rate (EER) works? I realise it is a weighting using a base year as 100%. But is it the £ against all other currencies in the basket, or versus each currency one by one? If anyone could explain it laymans terms that'd be great! Thanks people!
Hi!
Could someone explain how the effective exchange rate (EER) works? I realise it is a weighting using a base year as 100%. But is it the £ against all other currencies in the basket, or versus each currency one by one? If anyone could explain it laymans terms that'd be great! Thanks people!