International Merchandise Trade Statistics: Imports: Commodities for Hungary
Forint, Annual, Seasonally Adjusted
XTIMVA01HUA664S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,665,160,000,000.00
Year-over-Year Change
146.12%
Date Range
1/1/1976 - 1/1/2024
Summary
This series measures the annual, seasonally adjusted exchange rate of the Hungarian forint against the U.S. dollar. It is a key indicator of the relative strength of the Hungarian currency and can provide insights into the country's economic performance 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 forint exchange rate is a vital economic indicator for Hungary, reflecting the nation's competitiveness, trade flows, and macroeconomic conditions. Policymakers and analysts closely monitor this trend to assess the Hungarian economy's external position and make informed decisions regarding monetary and fiscal policies.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on official exchange rate information.
Historical Context
The forint exchange rate is closely watched by international investors, businesses, and policymakers to gauge Hungary's economic health and prospects.
Key Facts
- The Hungarian forint is the official currency of Hungary.
- Hungary joined the European Union in 2004 but has not yet adopted the euro.
- The forint exchange rate is a key indicator of Hungary's economic performance.
FAQs
Q: What does this economic trend measure?
A: This series measures the annual, seasonally adjusted exchange rate of the Hungarian forint against the U.S. dollar, providing insights into the relative strength of the Hungarian currency.
Q: Why is this trend relevant for users or analysts?
A: The forint exchange rate is a crucial indicator for assessing Hungary's economic competitiveness, trade dynamics, and overall macroeconomic conditions, making it relevant for policymakers, investors, and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on official exchange rate information.
Q: How is this trend used in economic policy?
A: The forint exchange rate is closely monitored by policymakers in Hungary and internationally to inform decisions on monetary and fiscal policies, as well as to assess the country's economic performance and trade position.
Q: Are there update delays or limitations?
A: The data is published 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, Forint, Annual, Seasonally Adjusted (XTIMVA01HUA664S), retrieved from FRED.