Nominal Effective Exchange Rate as Based on Consumer Price Index for Guinea-Bissau
GNBENEERIX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.21
Year-over-Year Change
11.43%
Date Range
1/1/2000 - 1/1/2024
Summary
The Nominal Effective Exchange Rate as Based on Consumer Price Index for Guinea-Bissau measures the strength of the Guinea-Bissau currency relative to a basket of trading partner currencies, adjusted for relative inflation. This indicator provides insights into Guinea-Bissau's international 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) index tracks the value of the Guinea-Bissau currency against a weighted average of currencies from its major trading partners. The CPI-based NEER factors in inflation differences between Guinea-Bissau and its trading partners, offering a more comprehensive assessment of the country's external price competitiveness.
Methodology
The data is calculated by the International Monetary Fund based on exchange rates and consumer price indices.
Historical Context
Policymakers use the CPI-based NEER to monitor Guinea-Bissau's international trade position and guide decisions on exchange rate and monetary policies.
Key Facts
- Guinea-Bissau is a small, low-income country in West Africa.
- The CPI-based NEER index is a measure of Guinea-Bissau's international price competitiveness.
- A rising NEER indicates an appreciation of the Guinea-Bissau currency.
FAQs
Q: What does this economic trend measure?
A: The Nominal Effective Exchange Rate as Based on Consumer Price Index for Guinea-Bissau measures the strength of the Guinea-Bissau currency relative to a basket of trading partner currencies, adjusted for relative inflation.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into Guinea-Bissau's international competitiveness, which is crucial for policymakers monitoring the country's trade position and guiding exchange rate and monetary policies.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund based on exchange rates and consumer price indices.
Q: How is this trend used in economic policy?
A: Policymakers use the CPI-based NEER to monitor Guinea-Bissau's international trade position and guide decisions on exchange rate and monetary policies.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of exchange rate and consumer price information for Guinea-Bissau and its trading partners.
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Citation
U.S. Federal Reserve, Nominal Effective Exchange Rate as Based on Consumer Price Index for Guinea-Bissau (GNBENEERIX), retrieved from FRED.