What is the real exchange rate between the dollar and the euro equal to?

What will be an ideal response?

Let
? Real dollar/euro exchange rate =
? Nominal exchange rate =
? Price of an unchanging basket in US = Pus
? Price of an unchanging basket in Europe = PE
Then,
= ( × PE)/PUS
A rise in the real dollar/euro exchange rate is called a real depreciation of the dollar against the euro, a fall in purchasing power of the dollar.
A fall in the real dollar/euro exchange rate is called a real appreciation of the dollar against the euro, a rise in purchasing power of the dollar.