Exchange Rate (market+estimated) for Norway
XRNCUSNOA618NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.80
Year-over-Year Change
50.13%
Date Range
1/1/1950 - 1/1/2019
Summary
The Exchange Rate (market+estimated) for Norway measures the value of the Norwegian krone relative to the U.S. dollar. This metric is closely watched by economists and policymakers to assess Norway's international competitiveness and trade dynamics.
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 Norway is a key indicator of the strength of the Norwegian currency. It reflects both market-determined and estimated exchange rates, providing a comprehensive view of the krone's performance against the U.S. dollar. This data is used to analyze Norway's economic conditions and make informed decisions about monetary and fiscal policies.
Methodology
The data is compiled by the U.S. Federal Reserve using a combination of market-observed and estimated exchange rates.
Historical Context
This exchange rate trend is widely referenced by economists, policymakers, and market analysts to evaluate Norway's trade position and the impacts on its economy.
Key Facts
- The Norwegian krone is the official currency of Norway.
- Norway is a major exporter of oil, gas, and seafood products.
- Exchange rates impact Norway's trade competitiveness and purchasing power.
FAQs
Q: What does this economic trend measure?
A: The Exchange Rate (market+estimated) for Norway measures the value of the Norwegian krone relative to the U.S. dollar, reflecting both market-determined and estimated exchange rates.
Q: Why is this trend relevant for users or analysts?
A: This exchange rate trend is closely monitored by economists and policymakers to assess Norway's international competitiveness and trade dynamics, which are crucial for evaluating the country's economic conditions.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Federal Reserve using a combination of market-observed and estimated exchange rates.
Q: How is this trend used in economic policy?
A: The Exchange Rate (market+estimated) for Norway is widely referenced by economists, policymakers, and market analysts to evaluate Norway's trade position and the impacts on its economy, informing decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be occasional delays or limitations in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Exchange Rate (market+estimated) for Norway (XRNCUSNOA618NRUG), retrieved from FRED.