Broad Effective Exchange Rate for Slovakia
NBSKBIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.27
Year-over-Year Change
1.23%
Date Range
1/1/1994 - 6/1/2025
Summary
The Broad Effective Exchange Rate for Slovakia measures the strength of the Slovak koruna relative to a trade-weighted basket of currencies. It is an important indicator of the country'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 Broad Effective Exchange Rate for Slovakia is an index that tracks the value of the Slovak koruna against the currencies of Slovakia's major trading partners, weighted by the volume of trade. It provides insight into the country's trade dynamics and international purchasing power.
Methodology
The data is calculated by the National Bank of Slovakia based on exchange rates and trade flows.
Historical Context
Policymakers and analysts use this index to assess Slovakia's trade position and the impact of exchange rate movements.
Key Facts
- Slovakia joined the Eurozone in 2009.
- The Broad Effective Exchange Rate has remained relatively stable since the adoption of the euro.
- Exchange rate movements can significantly impact Slovakia's export-oriented economy.
FAQs
Q: What does this economic trend measure?
A: The Broad Effective Exchange Rate for Slovakia measures the strength of the Slovak koruna relative to a trade-weighted basket of currencies, providing insight into the country's international competitiveness.
Q: Why is this trend relevant for users or analysts?
A: The Broad Effective Exchange Rate is an important indicator for assessing Slovakia's trade dynamics, international purchasing power, and overall economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the National Bank of Slovakia based on exchange rates and trade flows.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to evaluate Slovakia's trade position and the impact of exchange rate movements on the country's export-oriented economy.
Q: Are there update delays or limitations?
A: The Broad Effective Exchange Rate for Slovakia is published regularly by the National Bank of Slovakia, with minimal update delays.
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Citation
U.S. Federal Reserve, Broad Effective Exchange Rate for Slovakia (NBSKBIS), retrieved from FRED.