Nominal Effective Exchange Rate as Based on Consumer Price Index for Comoros
COMENEERIX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.86
Year-over-Year Change
25.34%
Date Range
1/1/2000 - 1/1/2024
Summary
The Nominal Effective Exchange Rate as Based on Consumer Price Index for Comoros measures the value of the Comorian franc relative to a basket of other currencies, adjusted for inflation. This broad indicator provides insight into 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
The nominal effective exchange rate (NEER) is an index that tracks the strength of a country's currency against a weighted basket of other currencies. For Comoros, the NEER is calculated using the consumer price index (CPI) to account for inflation. This helps economists and policymakers assess the Comorian franc's purchasing power and trade dynamics.
Methodology
The data is calculated by the International Monetary Fund using official exchange rates and consumer price indexes.
Historical Context
Economists and trade analysts use the Comoros NEER to evaluate the country's export competitiveness and potential trade imbalances.
Key Facts
- The base year for the Comoros NEER index is 2016.
- Comoros is a small island nation in the Indian Ocean.
- The Comorian franc is the official currency of Comoros.
FAQs
Q: What does this economic trend measure?
A: The Nominal Effective Exchange Rate as Based on Consumer Price Index for Comoros measures the value of the Comorian franc relative to a basket of other currencies, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This broad indicator provides insight into Comoros' international trade competitiveness, which is important for economists and policymakers evaluating the country's export potential and trade dynamics.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund using official exchange rates and consumer price indexes.
Q: How is this trend used in economic policy?
A: Economists and trade analysts use the Comoros NEER to evaluate the country's export competitiveness and potential trade imbalances.
Q: Are there update delays or limitations?
A: The Comoros NEER data is published regularly by the IMF, but there may be some delays in reporting due to the small size of the Comorian economy.
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Citation
U.S. Federal Reserve, Nominal Effective Exchange Rate as Based on Consumer Price Index for Comoros (COMENEERIX), retrieved from FRED.