Broad Effective Exchange Rate for Norway
NBNOBIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.92
Year-over-Year Change
0.10%
Date Range
1/1/1994 - 6/1/2025
Summary
The Broad Effective Exchange Rate for Norway measures the strength of the Norwegian krone relative to a trade-weighted basket of foreign currencies. It is a key indicator of Norway'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 tracks the external value of the Norwegian currency, providing insight into Norway's trade position and economic performance. It is widely used by policymakers, analysts, and businesses to assess the krone's exchange rate dynamics.
Methodology
The data is calculated by the Bank for International Settlements based on exchange rates and trade weights.
Historical Context
Movements in the Broad Effective Exchange Rate can influence Norway's import/export balance, inflation, and monetary policy decisions.
Key Facts
- Norway is a major exporter of oil, gas, and other commodities.
- The krone is a free-floating currency managed by Norges Bank.
- The Broad Effective Exchange Rate measures the krone's value against 44 trading partners.
FAQs
Q: What does this economic trend measure?
A: The Broad Effective Exchange Rate for Norway measures the strength of the Norwegian krone relative to a trade-weighted basket of foreign currencies.
Q: Why is this trend relevant for users or analysts?
A: The Broad Effective Exchange Rate provides insight into Norway's trade position and international competitiveness, which is crucial for policymakers, businesses, and economists analyzing the Norwegian economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Bank for International Settlements based on exchange rates and trade weights.
Q: How is this trend used in economic policy?
A: Movements in the Broad Effective Exchange Rate can influence Norway's import/export balance, inflation, and the monetary policy decisions of Norges Bank.
Q: Are there update delays or limitations?
A: The Broad Effective Exchange Rate data is published regularly with minimal delay, providing timely insights into the krone's exchange rate dynamics.
Related Trends
5-Bank Asset Concentration for Norway
DDOI06NOA156NWDB
Total Credit to Households and NPISHs, Adjusted for Breaks, for Norway
QNOHAM770A
Harmonized Index of Consumer Prices: Passenger Transport by Road for Norway
CP0732NOM086NEST
Harmonized Index of Consumer Prices: Garments for Norway
CP0312NOM086NEST
Consolidated Foreign Claims of BIS-Reporting Banks to GDP for Norway
DDOI12NOA156NWDB
Harmonized Index of Consumer Prices: Canteens for Norway
CP1112NOM086NEST
Citation
U.S. Federal Reserve, Broad Effective Exchange Rate for Norway (NBNOBIS), retrieved from FRED.