National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Norway
Norwegian Krone, Annual
NAEXKP01NOA189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,454,337,000,000.00
Year-over-Year Change
21.79%
Date Range
1/1/1978 - 1/1/2022
Summary
The Norwegian Krone, Annual trend measures the average annual exchange rate between the Norwegian Krone and the U.S. Dollar. It is a key economic indicator for analyzing Norway's trade and currency dynamics.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Norwegian Krone, Annual series tracks the yearly average of the daily noon buying rates for cable transfers payable in Norwegian Krones. This data point is widely used by economists and policymakers to assess Norway's economic performance and competitiveness in global markets.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on currency market transactions.
Historical Context
The Norwegian Krone exchange rate is an important factor in Norway's monetary and trade policies.
Key Facts
- Norway is one of the world's largest exporters of oil and natural gas.
- The Norwegian Krone is a floating currency, with its value determined by currency markets.
- Norway's central bank, Norges Bank, monitors the Krone's exchange rate as part of its monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Norwegian Krone, Annual trend measures the average annual exchange rate between the Norwegian Krone and the U.S. Dollar.
Q: Why is this trend relevant for users or analysts?
A: The Norwegian Krone exchange rate is a key indicator of Norway's economic performance and competitiveness in global markets, making it relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on currency market transactions.
Q: How is this trend used in economic policy?
A: Norway's central bank, Norges Bank, monitors the Krone's exchange rate as part of its monetary policy, using it to help assess the country's trade dynamics and competitiveness.
Q: Are there update delays or limitations?
A: The Norwegian Krone, Annual data is published with a relatively short delay, making it a timely indicator of economic conditions.
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Citation
U.S. Federal Reserve, Norwegian Krone, Annual (NAEXKP01NOA189S), retrieved from FRED.