Pricing-to-market, currency invoicing and exchange rate pass-through to producer prices

•We examine exchange rate pass-through to producer prices (domestic and export prices).•We show that there is significant heterogeneity in currency invoicing across industries.•The currency of invoicing matters for the degree of pass-through to producer prices.•Using the same good shipped to different markets, we find evidence of pricing-to-market.•We also find that pricing-to-market is linked to the currency of invoice.