Which of the following does 'Real Effective Exchange Rate' refers to
1
Weighted average of a country's currency in relation to an index or basket of other major currencies.
2
Weighted average of a USA currency in relation to an index or basket of India's currency
3
Weighted average of a India expenditure in relation to other countries expenditure.
4
Weighted average of a country's central bank exchange rate to an index of World Bank
5
None of the above