Broad Effective Exchange Rate for Singapore
NBSGBIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.72
Year-over-Year Change
1.40%
Date Range
1/1/1994 - 6/1/2025
Summary
The Broad Effective Exchange Rate for Singapore measures the strength of the Singapore dollar against a trade-weighted basket of currencies. It provides insight into the competitiveness of Singapore's exports and imports.
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 Broad Effective Exchange Rate is an index that tracks the value of the Singapore dollar relative to a group of trading partners. It is used to assess the overall trade and price competitiveness of the Singapore economy in global markets.
Methodology
The data is calculated by the Monetary Authority of Singapore based on exchange rates and trade weights.
Historical Context
This index is closely monitored by policymakers and analysts to gauge Singapore's economic performance and guide trade and monetary policy decisions.
Key Facts
- Singapore is a major global trading hub.
- The Broad Effective Exchange Rate tracks the Singapore dollar against 43 trading partner currencies.
- The index is calculated as a geometric weighted average of bilateral exchange rates.
FAQs
Q: What does this economic trend measure?
A: The Broad Effective Exchange Rate for Singapore measures the overall strength of the Singapore dollar against a trade-weighted basket of currencies from Singapore's major trading partners.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the competitiveness of Singapore's exports and imports, which is crucial for monitoring the country's trade performance and guiding economic policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the Monetary Authority of Singapore based on exchange rates and trade weights.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the Broad Effective Exchange Rate to gauge Singapore's economic performance and inform trade and monetary policy decisions.
Q: Are there update delays or limitations?
A: The Broad Effective Exchange Rate for Singapore is published regularly by the Monetary Authority of Singapore, with minimal delays in data availability.
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Citation
U.S. Federal Reserve, Broad Effective Exchange Rate for Singapore (NBSGBIS), retrieved from FRED.