International Merchandise Trade Statistics: Imports: Commodities for Russia
US dollars, exchange rate converted, Annual
XTIMVA01RUA667S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
299,274,100,000.00
Year-over-Year Change
-10.75%
Date Range
1/1/1991 - 1/1/2024
Summary
The U.S. dollars exchange rate converted annually measures the value of the U.S. dollar relative to a basket of major foreign currencies. This key indicator helps economists and policymakers assess the country's international trade 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
This exchange rate series reflects the annual average of the U.S. dollar's value against a broad index of foreign currencies. It is a widely followed metric for evaluating the dollar's strength and its impact on trade, investment, and the broader economy.
Methodology
The data is calculated by the Federal Reserve based on exchange rates and currency weights.
Historical Context
Analysts monitor this exchange rate trend to gauge the U.S. dollar's performance and its potential effects on exports, imports, and the trade balance.
Key Facts
- The U.S. dollar exchange rate is a major driver of international trade and investment flows.
- A stronger dollar makes U.S. exports more expensive and imports cheaper, impacting the trade balance.
- Exchange rate trends influence the competitiveness of U.S. businesses in global markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual average value of the U.S. dollar against a broad basket of major foreign currencies.
Q: Why is this trend relevant for users or analysts?
A: The U.S. dollar exchange rate is a critical indicator for evaluating the country's international trade competitiveness and the potential impacts on exports, imports, and the trade balance.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates this exchange rate series based on exchange rates and currency weights.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this exchange rate trend to assess the dollar's performance and its potential effects on the broader economy, including trade, investment, and inflation.
Q: Are there update delays or limitations?
A: The annual exchange rate data is released by the Federal Reserve with a short lag, providing timely information for analysts and policymakers.
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Citation
U.S. Federal Reserve, US dollars, exchange rate converted, Annual (XTIMVA01RUA667S), retrieved from FRED.