Depending on the project you may prefer to use the historic or the current exchange rates:

• The historic exchange rate represents the value placed on the licence at the time using the most common currency benchmark: USD
• Current exchange rates would make allowances for what would seem to be an artificially depressed price if the country involved had low exchange rates due to wider economic circumstances.

You may prefer to cross reference by comparing both sets of figures.

Some of the columns in both MHz/pop sheets are hidden to show the data in the simplest possible form. You can unhide these to reveal the figures on which the MHz/pop calculations are made. Much of the information contained in the LICENCES sheet (details about the frequencies sold and technologies used) is duplicated for your convenience in the MHz/pop sheets and can be revealed by unhiding all columns A-V. Columns Y-AF show the following data not found elsewhere in the spreadsheet and used to make the MHz/pop calculations:

• MHz/pop in original currency
• Auction price at current USD exchange
• Auction price at historic USD exchange
• Price/MHz/pop at current USD rates
• Price/MHz/pop at historic USD rates
• Actual pop covered by licence
• Price/MHz/ adjusted pop at current USD rates
• Price/MHz/ adjusted pop at historic USD rates

The historic and current exchange rate data on which the MHz/pop calculations are made is available in a separate sheet called EXCHANGE RATES. Please note that some licence prices were quoted in Euros before the official introduction of the currency in 1999. In these circumstances we use the ECU exchange rate for the relevant year.