dollar is to assess the evolution of the Canadian dollar, absent our principal trading partner. These two indexes allow us to disentangle competitiveness-related issues that are closely tied with the OITP index from financial pressure on the Canadian dollar, which is better captured by the major currencies index.
The other important trading partners (OITP) index is made up of the remaining 10 currencies: the Brazilian real, Chinese renminbi, Hong Kong dollar, Indian rupee, Malaysian ringgit, Mexican peso, Norwegian krone, Peruvian new sol, South Korean won and Thai baht. The major currencies index includes seven currencies that are traded widely in markets outside their respective home areas: the US dollar, euro, Japanese yen, British pound, Swiss franc, Australian dollar and Swedish krona. You can use South African rand to US dollar converter and calculate it. The total index includes all 17 of Canada’s main trading partners. CEER is constructed on a nominal and real basis for four measures to assess the evolution of the Canadian exchange rate against different groups of countries.
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