Balance of Payments: Total Net Current Account for Papua New Guinea
U.S. Dollars
PNGBCABP6USD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,016,159,614.90
Year-over-Year Change
-16.31%
Date Range
1/1/2016 - 1/1/2024
Summary
The 'U.S. Dollars' series measures the value of the U.S. dollar against a trade-weighted basket of currencies, providing insight into the dollar's international purchasing power.
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
This trade-weighted U.S. dollar index tracks the value of the dollar relative to the currencies of major U.S. trading partners. It is a key economic indicator used by policymakers, analysts, and businesses to assess the dollar's global competitiveness.
Methodology
The data is calculated by the U.S. Federal Reserve based on exchange rates.
Historical Context
The U.S. dollar index is closely monitored for its impact on exports, imports, and international trade flows.
Key Facts
- The index has a base year of 1997.
- A higher index value indicates a stronger U.S. dollar.
- The index is calculated using a geometric weighted average of 6 major currencies.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Dollars' series tracks the value of the U.S. dollar against a trade-weighted basket of currencies, providing a broad measure of the dollar's international purchasing power.
Q: Why is this trend relevant for users or analysts?
A: The U.S. dollar index is a crucial indicator used by policymakers, businesses, and analysts to assess the dollar's global competitiveness and its impact on trade, exports, and imports.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on exchange rates between the U.S. dollar and the currencies of major U.S. trading partners.
Q: How is this trend used in economic policy?
A: The U.S. dollar index is closely monitored by the Federal Reserve and other policymakers as it can influence international trade flows, inflation, and the overall strength of the U.S. economy.
Q: Are there update delays or limitations?
A: The U.S. dollar index data is published regularly by the Federal Reserve with minimal delay, providing timely information on the dollar's international value.
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Citation
U.S. Federal Reserve, Broad U.S. Dollar Index (PNGBCABP6USD), retrieved from FRED.