Exchange Rate (market+estimated) for Guinea-Bissau
XRNCUSGWA618NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
585.91
Year-over-Year Change
22.25%
Date Range
1/1/1960 - 1/1/2019
Summary
The Exchange Rate (market+estimated) for Guinea-Bissau measures the value of the Guinea-Bissau franc relative to the U.S. dollar. This metric is critical for understanding Guinea-Bissau's international trade and economic 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
This series represents the official exchange rate between the Guinea-Bissau franc and the U.S. dollar, based on a combination of market and estimated data. It is used by economists, policymakers, and market analysts to assess Guinea-Bissau's economic performance and external position.
Methodology
The data is collected and calculated by the World Bank based on official exchange rate quotations.
Historical Context
The exchange rate is a key factor in evaluating Guinea-Bissau's trade balance, inflation, and overall macroeconomic conditions.
Key Facts
- Guinea-Bissau uses the Guinea-Bissau franc as its national currency.
- The exchange rate is quoted as Guinea-Bissau francs per U.S. dollar.
- Exchange rates fluctuate daily based on market forces and government policies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the official exchange rate between the Guinea-Bissau franc and the U.S. dollar, based on a combination of market and estimated data.
Q: Why is this trend relevant for users or analysts?
A: The exchange rate is a critical indicator for evaluating Guinea-Bissau's international trade, economic competitiveness, and overall macroeconomic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on official exchange rate quotations.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this exchange rate data to assess Guinea-Bissau's trade balance, inflation, and other macroeconomic factors that inform policy decisions.
Q: Are there update delays or limitations?
A: The exchange rate data is updated regularly, but there may be occasional delays or limitations due to data collection and reporting processes.
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Citation
U.S. Federal Reserve, Exchange Rate (market+estimated) for Guinea-Bissau (XRNCUSGWA618NRUG), retrieved from FRED.