International Merchandise Trade Statistics: Imports: Commodities for Ireland
US dollars, exchange rate converted, Annual, Seasonally Adjusted
XTIMVA01IEA667S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143,451,600,000.00
Year-over-Year Change
103.76%
Date Range
1/1/1957 - 1/1/2024
Summary
This annual, seasonally adjusted series tracks the US dollar exchange rate converted to foreign currency. It provides insights into the relative strength and purchasing power of the US dollar over time.
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 US dollars, exchange rate converted series measures the value of the US dollar relative to other major world currencies. It is a key indicator of the dollar's international standing and can influence trade, investments, and macroeconomic policy.
Methodology
The data is collected and calculated by the US Federal Reserve using a trade-weighted index and published on the FRED economic database.
Historical Context
This exchange rate trend is closely monitored by policymakers, traders, and analysts to assess the competitiveness of US exports and imports.
Key Facts
- The US dollar exchange rate is a trade-weighted index against major global currencies.
- A stronger US dollar makes American exports more expensive and imports cheaper.
- The exchange rate can impact the competitiveness of US firms in global markets.
FAQs
Q: What does this economic trend measure?
A: This series measures the annual, seasonally adjusted value of the US dollar relative to a basket of major foreign currencies, providing insights into the dollar's international purchasing power.
Q: Why is this trend relevant for users or analysts?
A: The US dollar exchange rate is a key indicator that can influence trade, investments, and macroeconomic policy decisions by policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the US Federal Reserve using a trade-weighted index methodology and published on the FRED economic database.
Q: How is this trend used in economic policy?
A: Policymakers, traders, and analysts closely monitor this exchange rate trend to assess the competitiveness of US exports and imports, which can inform trade and monetary policies.
Q: Are there update delays or limitations?
A: The US dollars, exchange rate converted series is published annually and with a seasonally adjusted calculation, providing a reliable long-term perspective on the dollar's international standing.
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Citation
U.S. Federal Reserve, US dollars, exchange rate converted, Annual, Seasonally Adjusted (XTIMVA01IEA667S), retrieved from FRED.