Broad Effective Exchange Rate for Denmark
NBDKBIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.81
Year-over-Year Change
1.56%
Date Range
1/1/1994 - 6/1/2025
Summary
The Broad Effective Exchange Rate for Denmark measures the value of the Danish krone relative to a basket of other currencies, providing insight into Denmark'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 Broad Effective Exchange Rate is an economic indicator that tracks the strength of the Danish krone against a trade-weighted average of foreign currencies. It reflects Denmark's overall trade position and is used by policymakers to assess the country's export and import dynamics.
Methodology
The data is calculated by the Bank for International Settlements using exchange rate and trade flow information.
Historical Context
The broad exchange rate is closely monitored by the Danish central bank and government to inform monetary and trade policies.
Key Facts
- Denmark is a major exporter of goods and services.
- The krone has been pegged to the euro since 1999.
- Exchange rate movements affect Danish competitiveness abroad.
FAQs
Q: What does this economic trend measure?
A: The Broad Effective Exchange Rate for Denmark measures the strength of the Danish krone relative to a basket of trading partner currencies, providing insight into the country's international trade competitiveness.
Q: Why is this trend relevant for users or analysts?
A: The broad exchange rate is an important indicator for understanding Denmark's trade position and can inform economic policy decisions related to exports, imports, and the overall health of the Danish economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Bank for International Settlements using exchange rate and trade flow information.
Q: How is this trend used in economic policy?
A: The broad exchange rate is closely monitored by the Danish central bank and government to inform monetary and trade policies, as movements in the krone's value can significantly impact the country's international competitiveness.
Q: Are there update delays or limitations?
A: The Broad Effective Exchange Rate for Denmark is published monthly with minimal delays, providing timely data for policymakers and analysts.
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Citation
U.S. Federal Reserve, Broad Effective Exchange Rate for Denmark (NBDKBIS), retrieved from FRED.