Real Effective Exchange Rate as Based on Consumer Price Index for Senegal
SENEREERIX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.26
Year-over-Year Change
2.34%
Date Range
1/1/2000 - 1/1/2024
Summary
The Real Effective Exchange Rate as Based on Consumer Price Index for Senegal measures the value of the Senegalese franc relative to a basket of trading partner currencies, adjusted for inflation. This trend provides insights into Senegal's 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 Real Effective Exchange Rate (REER) index tracks the purchasing power of a country's currency compared to its major trading partners. This metric is a key indicator of a nation's export and import competitiveness, helping economists assess Senegal's trade position and potential impacts on the broader economy.
Methodology
The data is calculated based on Senegal's consumer price index and the exchange rates between the Senegalese franc and currencies of major trading partners.
Historical Context
Policymakers and analysts use the REER to evaluate Senegal's trade performance and guide decisions on exchange rate and monetary policies.
Key Facts
- Senegal's REER has averaged 103.03 since 2010.
- A higher REER indicates the Senegalese franc is appreciating relative to trading partners.
- Fluctuations in Senegal's REER can impact the country's export and import levels.
FAQs
Q: What does this economic trend measure?
A: The Real Effective Exchange Rate as Based on Consumer Price Index for Senegal measures the value of the Senegalese franc relative to a basket of currencies from Senegal's major trading partners, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Senegal's international trade competitiveness, which is crucial for evaluating the country's export performance, import dynamics, and overall economic health.
Q: How is this data collected or calculated?
A: The REER data is calculated based on Senegal's consumer price index and the exchange rates between the Senegalese franc and currencies of major trading partners.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use Senegal's REER to assess the country's trade position and guide decisions on exchange rate, monetary, and trade policies.
Q: Are there update delays or limitations?
A: The REER data for Senegal is published with a lag, and there may be limitations in the coverage of trading partner countries or the accuracy of underlying exchange rate and price data.
Related Trends
Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Senegal
SENFCRODMFPENUM
Financial System Deposits to GDP for Senegal
DDDI08SNA156NWDB
Number of Identified Exporters to Senegal from Indiana
INSENA475SCEN
Geographical Outreach: Number of Branches, Excluding Headquarters, for Deposit Taking Microfinance Institutions (MFIs) for Senegal
SENFCBODMFNUM
Value of Exports to Senegal from Ohio
OHSENA052SCEN
Gross Domestic Product for Senegal
MKTGDPSNA646NWDB
Citation
U.S. Federal Reserve, Real Effective Exchange Rate as Based on Consumer Price Index for Senegal (SENEREERIX), retrieved from FRED.