Exchange Rate (market+estimated) for Grenada
XRNCUSGDA618NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.70
Year-over-Year Change
-0.00%
Date Range
1/1/1970 - 1/1/2019
Summary
The Exchange Rate (market+estimated) for Grenada measures the value of the Grenadian dollar relative to the U.S. dollar. This metric is crucial for understanding Grenada's international trade and economic performance.
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 Exchange Rate (market+estimated) for Grenada represents the price at which the Grenadian dollar can be exchanged for U.S. dollars in foreign exchange markets. This rate is a key indicator of Grenada's economic competitiveness and can impact the country's import/export dynamics.
Methodology
The data is collected by monitoring foreign exchange market transactions and estimating the implied exchange rate.
Historical Context
Policymakers and analysts use this exchange rate to assess Grenada's trade balance, inflation, and overall economic health.
Key Facts
- The Grenadian dollar has been pegged to the U.S. dollar since 1976.
- Grenada is a member of the Eastern Caribbean Currency Union.
- Exchange rates impact the competitiveness of Grenada's exports.
FAQs
Q: What does this economic trend measure?
A: The Exchange Rate (market+estimated) for Grenada measures the value of the Grenadian dollar relative to the U.S. dollar, which is a key indicator of Grenada's international trade and economic performance.
Q: Why is this trend relevant for users or analysts?
A: This exchange rate is crucial for understanding Grenada's economic competitiveness, trade balance, and inflation dynamics, making it a important metric for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by monitoring foreign exchange market transactions and estimating the implied exchange rate between the Grenadian dollar and the U.S. dollar.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this exchange rate to assess Grenada's trade balance, inflation, and overall economic health, informing policy decisions and market analysis.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting, and the estimated nature of the exchange rate can introduce some uncertainty compared to direct market quotations.
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Citation
U.S. Federal Reserve, Exchange Rate (market+estimated) for Grenada (XRNCUSGDA618NRUG), retrieved from FRED.