Real Effective Exchange Rate in 2012
Real Effective Exchange Rate opened 2012 at 81.82 and closed at 80.51, a -1.60% move for the year. The high of 84.19 was reached on June 1, and the low of 80.50 on February 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 81.82 | 81.82 | 81.82 | 81.82 | +0.00% |
| Feb | 80.50 | 80.50 | 80.50 | 80.50 | +0.00% |
| Mar | 81.23 | 81.23 | 81.23 | 81.23 | +0.00% |
| Apr | 81.56 | 81.56 | 81.56 | 81.56 | +0.00% |
| May | 83.02 | 83.02 | 83.02 | 83.02 | +0.00% |
| Jun | 84.19 | 84.19 | 84.19 | 84.19 | +0.00% |
| Jul | 83.64 | 83.64 | 83.64 | 83.64 | +0.00% |
| Aug | 83.06 | 83.06 | 83.06 | 83.06 | +0.00% |
| Sep | 81.80 | 81.80 | 81.80 | 81.80 | +0.00% |
| Oct | 81.32 | 81.32 | 81.32 | 81.32 | +0.00% |
| Nov | 81.48 | 81.48 | 81.48 | 81.48 | +0.00% |
| Dec | 80.51 | 80.51 | 80.51 | 80.51 | +0.00% |
Events During 2012
Greece's debt revelation in October 2009 triggered a multi-year eurozone crisis that threatened the euro's survival. Greece, Ireland, Portugal, Spain, and Italy required emergency support. Mario Draghi's "whatever it takes" in 2012 ended the acute phase.
ECB President Mario Draghi's July 26, 2012 speech in London ended the acute eurozone crisis. The commitment, backed by Outright Monetary Transactions, arrested peripheral yield spikes without buying a single bond.
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