The trade-weighted effective exchange rate index is an economic indicator for comparing the exchange rate of a country against those of their major trading partners.
By design, movements in the currencies of those trading partners with a greater share in an economy's exports and imports will have a greater effect on the effective exchange rate.
This month, the shekel continued its appreciation, strengthening by 2.6 percent against the dollar, and by 3.3 percent in terms of the nominal effective exchange rate.