Monetary Aggregates and Their Components: Broad Money and Components: M3 for Norway
Norwegian Krone, Quarterly
MABMM301NOQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,071,148,333,333.33
Year-over-Year Change
18.43%
Date Range
1/1/1993 - 7/1/2023
Summary
This economic trend measures the quarterly exchange rate of the Norwegian krone against the U.S. dollar. It is a key indicator for analyzing Norway's international trade and 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 Norwegian krone (NOK) is the official currency of Norway. This quarterly series tracks the value of the NOK relative to the U.S. dollar, which is an important metric for assessing Norway's economic performance and exchange rate policy.
Methodology
The data is collected and published by the Federal Reserve based on foreign exchange market quotations.
Historical Context
Policymakers and analysts use this exchange rate trend to inform decisions on monetary policy, international trade, and economic growth.
Key Facts
- Norway is the world's 10th largest economy.
- The Norwegian krone has experienced volatility due to fluctuations in oil prices.
- Exchange rate movements impact Norway's exports and imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly exchange rate of the Norwegian krone against the U.S. dollar, which is a key indicator of Norway's international trade competitiveness.
Q: Why is this trend relevant for users or analysts?
A: The Norwegian krone exchange rate is an important metric for assessing Norway's economic performance, guiding monetary policy decisions, and understanding the country's international trade dynamics.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Federal Reserve based on foreign exchange market quotations.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this exchange rate trend to inform decisions on monetary policy, international trade, and economic growth in Norway.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, so there may be a delay in the most recent information being available.
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Citation
U.S. Federal Reserve, Norwegian Krone, Quarterly (MABMM301NOQ189S), retrieved from FRED.