Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for Hungary
Forint, Annual
CCUSMA02HUA618N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
365.77
Year-over-Year Change
62.69%
Date Range
1/1/1968 - 1/1/2024
Summary
The 'Forint, Annual' trend measures the average annual exchange rate between the Hungarian forint and the U.S. dollar. This data is crucial for analyzing Hungary's economic performance and competitiveness in international trade and finance.
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-dollar exchange rate is a key indicator of Hungary's economic health and trade dynamics. Economists and policymakers use this data to assess the competitiveness of Hungarian exports, the purchasing power of domestic consumers, and the overall stability of the Hungarian economy.
Methodology
The annual average exchange rate is calculated by the U.S. Federal Reserve based on daily market quotes.
Historical Context
The forint exchange rate is closely monitored by the National Bank of Hungary and factored into the country's monetary and fiscal policies.
Key Facts
- The forint has depreciated by over 50% against the U.S. dollar since 2010.
- Hungary is a member of the European Union but has not adopted the euro.
- The forint is one of the most volatile currencies in Central and Eastern Europe.
FAQs
Q: What does this economic trend measure?
A: The 'Forint, Annual' trend measures the average annual exchange rate between the Hungarian forint and the U.S. dollar.
Q: Why is this trend relevant for users or analysts?
A: The forint-dollar exchange rate is a crucial indicator of Hungary's economic performance and competitiveness in international trade and finance.
Q: How is this data collected or calculated?
A: The annual average exchange rate is calculated by the U.S. Federal Reserve based on daily market quotes.
Q: How is this trend used in economic policy?
A: The forint exchange rate is closely monitored by the National Bank of Hungary and factored into the country's monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published annually with no significant update delays.
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Citation
U.S. Federal Reserve, Forint, Annual (CCUSMA02HUA618N), retrieved from FRED.