Real Effective Exchange Rate as Based on Consumer Price Index for Benin
BENEREERIX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86.43
Year-over-Year Change
-11.55%
Date Range
1/1/2000 - 1/1/2024
Summary
The Real Effective Exchange Rate (REER) as Based on Consumer Price Index for Benin measures the weighted average of Benin's currency relative to an index or basket of other major currencies, adjusted for the effects of inflation.
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 REER for Benin is an important indicator of the country's international competitiveness and can inform economic and trade policy decisions. It tracks changes in the purchasing power of the Beninese franc against a group of trading partners.
Methodology
The data is calculated by the U.S. Federal Reserve using Benin's consumer price index and exchange rates.
Historical Context
Policymakers and analysts use the REER to assess Benin's trade balance and make adjustments to support exports or imports.
Key Facts
- The REER is a measure of a currency's strength relative to its trading partners.
- A higher REER indicates Benin's currency is appreciating, which can impact exports.
- The REER factors in both exchange rates and relative inflation rates.
FAQs
Q: What does this economic trend measure?
A: The Real Effective Exchange Rate (REER) as Based on Consumer Price Index for Benin measures the weighted average of Benin's currency relative to an index or basket of other major currencies, adjusted for the effects of inflation.
Q: Why is this trend relevant for users or analysts?
A: The REER for Benin is an important indicator of the country's international competitiveness and can inform economic and trade policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using Benin's consumer price index and exchange rates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the REER to assess Benin's trade balance and make adjustments to support exports or imports.
Q: Are there update delays or limitations?
A: The REER data may have update delays or limitations typical of macroeconomic indicators.
Related Trends
Net Lending/borrowing (excluding Grants) for General Government for Benin
BENGGXCNLXGG01GDPPT
Gross Domestic Product Per Capita for Benin
PCAGDPBJA646NWDB
Number of Identified Exporters to Benin from Idaho
IDBENA475SCEN
Use of Financial Services Borrowers: Persons Borrowing from Non-deposit Taking Microfinance Institutions (MFIs) for Benin
BENFCRMFNPENUM
Boone Indicator in Banking Market for Benin
DDOI05BJA156NWDB
Bank Deposits to GDP for Benin
DDOI02BJA156NWDB
Citation
U.S. Federal Reserve, Real Effective Exchange Rate as Based on Consumer Price Index for Benin (BENEREERIX), retrieved from FRED.