Real Narrow Effective Exchange Rate for Norway
RNNOBIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.15
Year-over-Year Change
0.17%
Date Range
1/1/1964 - 6/1/2025
Summary
The Real Narrow Effective Exchange Rate for Norway measures the value of the Norwegian krone relative to a basket of other currencies, adjusted for inflation. It is a key indicator of Norway's international 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 real effective exchange rate tracks the purchasing power of the Norwegian currency. It is used by economists and policymakers to assess Norway's trade position and the impact of exchange rate movements on the domestic economy.
Methodology
The data is calculated by the Bank for International Settlements using official exchange rates and consumer price indexes.
Historical Context
The Norwegian central bank closely monitors this exchange rate metric to inform monetary and fiscal policy decisions.
Key Facts
- Norway is a major oil and gas exporter.
- The krone is heavily influenced by global commodity prices.
- A stronger krone can negatively impact Norwegian exports.
FAQs
Q: What does this economic trend measure?
A: The Real Narrow Effective Exchange Rate for Norway tracks the purchasing power and international competitiveness of the Norwegian krone.
Q: Why is this trend relevant for users or analysts?
A: The real effective exchange rate is a key indicator used by economists and policymakers to assess Norway's trade position and the macroeconomic impact of currency movements.
Q: How is this data collected or calculated?
A: The data is calculated by the Bank for International Settlements using official exchange rates and consumer price indexes.
Q: How is this trend used in economic policy?
A: The Norwegian central bank closely monitors this exchange rate metric to inform monetary and fiscal policy decisions that affect the country's international competitiveness.
Q: Are there update delays or limitations?
A: The real effective exchange rate data is published regularly with minimal delays, providing a timely indicator of Norway's trade position.
Related Trends
Amount Outstanding of Domestic Money Market instruments in Non-Financial Corporations Sector, Short-Term at Original Maturity, Residence of Issuer in Norway
DMMISTRIAONCNO
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Transport for Norway
NORCPHP0700GYM
Bank Capital to Total Assets for Norway
DDSI03NOA156NWDB
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance for Norway
NORCP050000GYM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Norway
NORCPIALLQINMEI
Consumer Price Index: Harmonized Prices: All Items: Total for Norway
NORCPHPTT01IXEBM
Citation
U.S. Federal Reserve, Real Narrow Effective Exchange Rate for Norway (RNNOBIS), retrieved from FRED.