Daily
OECDNMERECD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
6/5/2019 - 2/28/2022
Summary
The OECD nominal effective exchange rate (NEER) index measures the strength of a country's currency relative to a basket of major trading partners' currencies. It is an important indicator of international competitiveness and trade dynamics.
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 OECD NEER index tracks the daily exchange value of a country's currency compared to a weighted average of other major currencies. Economists use this metric to assess a country's export and import performance, as well as inflationary pressures from exchange rate fluctuations.
Methodology
The NEER is calculated by the OECD based on exchange rate data for major currencies.
Historical Context
Policymakers and analysts monitor NEER trends to inform decisions on monetary, fiscal, and trade policies.
Key Facts
- The NEER index uses a trade-weighted average of exchange rates.
- A rising NEER indicates a stronger domestic currency.
- NEER trends can signal changes in a country's trade balance.
FAQs
Q: What does this economic trend measure?
A: The OECD nominal effective exchange rate (NEER) index measures the strength of a country's currency relative to a basket of major trading partners' currencies.
Q: Why is this trend relevant for users or analysts?
A: The NEER is an important indicator of a country's international competitiveness and can signal changes in trade dynamics and inflationary pressures.
Q: How is this data collected or calculated?
A: The NEER is calculated by the OECD based on exchange rate data for major currencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor NEER trends to inform decisions on monetary, fiscal, and trade policies.
Q: Are there update delays or limitations?
A: The OECD NEER data is updated daily and published with minimal delay.
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Citation
U.S. Federal Reserve, OECD Nominal Effective Exchange Rate (OECDNMERECD), retrieved from FRED.