Financial Market: Real Effective Exchange Rates: Unit Labor Costs Based for Hungary
CCRETT02HUA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.38
Year-over-Year Change
1.69%
Date Range
1/1/1993 - 1/1/2024
Summary
The Real Effective Exchange Rates: Unit Labor Costs Based for Hungary tracks the purchasing power of the Hungarian forint against a basket of other currencies, adjusted for relative labor costs. This measure is important for understanding Hungary's international competitiveness.
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 Real Effective Exchange Rates: Unit Labor Costs Based for Hungary is an index that represents the value of the Hungarian forint relative to a weighted average of other currencies, adjusted for differences in unit labor costs between Hungary and its trading partners. This provides insight into Hungary's trade balance and economic performance.
Methodology
The data is calculated by the U.S. Federal Reserve using exchange rates and labor cost information.
Historical Context
Policymakers and analysts use this index to assess Hungary's export competitiveness and trade dynamics.
Key Facts
- The base year for the index is 2010.
- Hungary is a member of the European Union.
- The index is published monthly.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real effective exchange rate of the Hungarian forint, adjusted for differences in unit labor costs between Hungary and its trading partners.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Hungary's international competitiveness and trade dynamics, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using exchange rate and labor cost information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess Hungary's export competitiveness and trade balance.
Q: Are there update delays or limitations?
A: The index is published monthly with no significant update delays.
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Citation
U.S. Federal Reserve, Financial Market: Real Effective Exchange Rates: Unit Labor Costs Based for Hungary (CCRETT02HUA661N), retrieved from FRED.