![Cartoon image of a currency exchange.](https://datawookie.dev/blog/2023/05/south-africa-real-effective-exchange-rate/exchange.webp)
A country’s Real Effective Exchange Rate (REER) is the exchange rate averaged over a selection of other countries, taking into account trade volume and adjusted for inflation via the Consumer Price Index (CPI). Zsolt Darvas has developed and maintains a REER dataset for 178 countries.