Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for Finland
CCUSMA02FIA618N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.92
Year-over-Year Change
18.84%
Date Range
1/1/1957 - 1/1/2024
Summary
This trend measures the average daily exchange rate between the US dollar and the Finnish markka, providing insight into the relative strength of the two currencies.
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 US Dollar Exchange Rate for Finland tracks the value of the US dollar compared to the Finnish markka, which was the official currency of Finland prior to the adoption of the euro. This data is used by economists and policymakers to analyze international trade, capital flows, and the competitiveness of the Finnish economy.
Methodology
The data is collected by the US Federal Reserve based on daily currency market transactions.
Historical Context
The exchange rate is an important indicator for businesses, investors, and policymakers who need to understand the dynamics of international commerce and capital movements.
Key Facts
- The US dollar-Finnish markka exchange rate was established in 1999 with the introduction of the euro.
- Finland joined the Eurozone in 1999, replacing the markka with the euro as its official currency.
- The exchange rate is quoted as the number of Finnish markka per US dollar.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average daily exchange rate between the US dollar and the Finnish markka, which was the official currency of Finland prior to the adoption of the euro.
Q: Why is this trend relevant for users or analysts?
A: The exchange rate is an important indicator for businesses, investors, and policymakers who need to understand the dynamics of international trade and capital flows between the US and Finland.
Q: How is this data collected or calculated?
A: The data is collected by the US Federal Reserve based on daily currency market transactions.
Q: How is this trend used in economic policy?
A: Policymakers use this exchange rate data to analyze the competitiveness of the Finnish economy and inform decisions related to international trade, monetary policy, and capital flows.
Q: Are there update delays or limitations?
A: The data is published daily by the Federal Reserve with minimal delay, providing timely information on the US dollar-Finnish markka exchange rate.
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Citation
U.S. Federal Reserve, Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for Finland (CCUSMA02FIA618N), retrieved from FRED.