We recalculate China's value-added, the weighted exchange rate, and the integrated exchange rate each year.

我们重新计算中国增值、加权汇率和综合汇率每年。

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As a result, China's trade-weighted exchange rate was about 4% lower in March than it was nine months before, according to the Bank for International Settlements.

因此，根据国际结算银行(Bank for International Settlements)的统计数字，中国三月份按贸易额加权的汇率比九个月之前还要低约4%。

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For example, despite a current-account surplus of 4.9% of GDP last year, one of the biggest of any developed economy, Japan's trade-weighted exchange rate sank by 13% from the end of 2002 to mid-2007.

例如，作为最大的发达国家之一的日本，尽管去年其经常项目盈余占到了GDP的4.9%，外贸加权汇率自2002年末至2007年中期，贬值了13%。

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Between mid-2005 and mid-2009, China's real trade-weighted exchange rate appreciated by about 5.5% a year.

ECONOMIST: Global rebalancing

The trade-weighted exchange rate index for the euro dropped from 114 in December 2008 to 96 in August 2012, a fall of 16%.

FORBES: Europe Will Recover As The Euro Falls

For example, the Goldman Sachs monetary-conditions index (based on a weighted average of short-and long-term interest rates and the trade-weighted exchange rate) suggests that America's monetary policy is currently at its tightest since 1989, largely reflecting the strong dollar.

ECONOMIST: The stockmarket economy