As of August, the latest data available, the BIS index of the dollar's effective exchange rate was less than 92, or roughly 8% below what some might consider fair, or equilibrium, value.
最近一份数据显示，8月份时BIS的美元实际有效汇率指数不足92，较指数均衡价值低了8%左右。
If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effective exchange rate, the yuan has appreciated 50 percent already since 2005.
代替消费者价格指数，如果我们使用劳动力成本的涨幅作为实际通胀指数，来计算实际有效汇率，那么自2005年起人民币已经升值了50%。
If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effective exchange rate, the yuan has appreciated 50 percent already since 2005.
代替消费者价格指数，如果我们使用劳动力成本的涨幅作为实际通胀指数，来计算实际有效汇率，那么自2005年起人民币已经升值了50%。
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