Nominal Effective Exchange Rate as Based on Consumer Price Index for Gambia, The
GMBENEERIX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.86
Year-over-Year Change
-32.53%
Date Range
1/1/2000 - 1/1/2024
Summary
The Nominal Effective Exchange Rate (NEER) as Based on the Consumer Price Index (CPI) for Gambia, The measures the weighted average of the Gambian dalasi's exchange rate against a basket of trading partner currencies, adjusted for inflation differentials.
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 NEER is an important indicator of a country's international competitiveness. It reflects the purchasing power of the domestic currency and can help policymakers assess the appropriate monetary and exchange rate policies.
Methodology
The data is calculated by the International Monetary Fund using official exchange rates and CPI data.
Historical Context
Economists and policymakers use this index to monitor Gambia's trade and economic performance.
Key Facts
- The base year for this index is 2010.
- Gambia's NEER has fluctuated significantly over the past decade.
- A rising NEER indicates an appreciation of the Gambian dalasi.
FAQs
Q: What does this economic trend measure?
A: This index measures the weighted average of the Gambian dalasi's exchange rate against a basket of trading partner currencies, adjusted for inflation differentials.
Q: Why is this trend relevant for users or analysts?
A: The NEER is an important indicator of Gambia's international competitiveness and can help policymakers assess the appropriate monetary and exchange rate policies.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund using official exchange rates and consumer price index data.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to monitor Gambia's trade and economic performance, which can inform decisions on monetary and exchange rate policies.
Q: Are there update delays or limitations?
A: The data is published regularly by the International Monetary Fund, but may be subject to delays or revisions in the underlying exchange rate and CPI data.
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Citation
U.S. Federal Reserve, Nominal Effective Exchange Rate as Based on Consumer Price Index for Gambia, The (GMBENEERIX), retrieved from FRED.