Monthly currency exchange rate estimates by market
Senegal, 64 markets, 2007/01/01-2024/11/01, version 2024-11-18

Senegal, 2007 - 2024

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Reference ID

SEN_2023_RTFX_v01_M

Producer(s)

Bo Pieter Johannes Andrée

Collection(s)

Fragility, Conflict and Violence

Metadata

DDI/XML JSON

Created on

Jan 31, 2024

Last modified

Nov 21, 2024

Page views

2479

Downloads

136

Identification

Survey ID number

SEN_2023_RTFX_v01_M

Title

Monthly currency exchange rate estimates by market

Subtitle

Senegal, 64 markets, 2007/01/01-2024/11/01, version 2024-11-18

Abbreviation or Acronym

Real Time FX Rates

Country/Economy

Name	Country code
Senegal	SEN

Study type

Monthly currency exchange rate estimates in fragile countries

Series Information

Real Time Prices (RTP) is a live dataset compiled and updated weekly by the World Bank Development Economics Data Group (DECDG) using a combination of direct price measurement and Machine Learning estimation of missing price data. The historical and current estimates are based on price information gathered from the World Food Program (WFP), UN-Food and Agricultural Organization (FAO), select National Statistical Offices, and are continually updated and revised as more price information becomes available. Real-time exchange rate data used in this process are from official and public sources.

RTP consists of three sub-series, Real Time Food Prices (RTFP) includes prices on a variety of food items that primarily include country-specific staple foods, Real Time Energy Prices (RTEP) includes fuel prices, and Real Time Exchange Rates (RTFX) and includes unofficial exchange rate estimates as well as possible other unofficial deflators.

To produce smooth price series, outliers in the data are often adjusted using non-parametric density estimation and other techniques. Generalized Auto-Regressive Conditional Heteroskedasticity models are used to estimate intra-month price ranges. These models allow for excess kurtosis using a Generalized Error Distribution (GED). Open, High, Low, and Close price estimates are provided based on the modeled time-varying price distributions.

Data are produced from 2007 to the present and estimates are given for individual commodity items at geo-referenced market locations. Predicted data for missing entries are based on exchange rates, and price data available either at other market locations or from related price items.

RTP estimates of historical and current prices may serve as proxies for sub-national price inflation series or substitute national-level Consumer Price Inflation (CPI) indicators when complete information is unavailable. Therefore, RTP data may differ from other sources with official data, including the World Bank’s International Comparison Program (ICP) or inflation series reported in the World Development Indicators.

The following datasets are part of this sub-series:

HIGH-LOW CHART, AND INFLATION

LOCATION OF MARKETS

DATA PREVIEW

Abstract

Currency exchange rate is an important metric to inform economic policy but traditional sources are often produced with delay during crises and only at an aggregate level. This may poorly reflect the actual rate trends in rural or poverty-stricken areas, where large populations reside in fragile situations.
This data set includes currency exchange rate estimates and is intended to help gain insight in price developments beyond what can be formally measured by traditional methods. The estimates are generated using a machine-learning approach that imputes ongoing subnational price surveys, often with accuracy similar to direct measurement of prices. The data set provides new opportunities to investigate local price dynamics in areas where populations are sensitive to localized price shocks and where traditional data are not available.

Version

Version Date

2024/11/18

Version Responsibility Statement

FCV Data Platform

Scope

Notes

List of products included in estimates (not all products are included in country-level estimates): exchange rate unofficial

Keywords

Foreign Exchange Monitor FXM Real Time Foreign Exchange Rates RTFX Inflation FCV Real-time exchange rate data Inflation series Market prices Price analysis Real-time data National prices International prices Price fluctuations Price trends Price Volatility Senegal

Coverage

Geographic Coverage notes

The data cover the following sub-national areas: Tambacounda, Diourbel, Ziguinchor, Kaffrine, Dakar, Saint Louis, Fatick, Kolda, Louga, Kaolack, Kedougou, Matam, Thies, Sedhiou, Market Average

Geographic Unit

Sub-national level, Admin 2 (selected)

Producers and sponsors

Primary investigators

Name	Affiliation
Bo Pieter Johannes Andrée	World Bank, Development Data Group (DECDG), Office of the Chief Statistician (DECCS)

Funding Agency/Sponsor

Name	Grant number	Role
Foreign, Commonwealth & Development Office of the United Kingdom		Support to data analytics
Foreign, Commonwealth & Development Office of the United Kingdom	KP-P174529-KMCE-TF0B4149	Data documentation and dissemination (FCV Data Platform)
Department of Foreign Affairs and Trade of Australia	TF0B6892	Support to methodological development in low data regions
Department of Foreign Affairs and Trade of Australia	TF0B6579	Support to methodological development in low data regions
Federal Ministry for Economic Cooperation and Development of Germany as part of the World Bank’s Food Systems 2030 Multi-Donor Trust Fund	TF073570	Expansion of coverage and maintenance
Federal Ministry for Economic Cooperation and Development of Germany as part of the World Bank’s Food Systems 2030 Multi-Donor Trust Fund	TF0C0728	Expansion of coverage and maintenance

Other Identifications/Acknowledgments

Name	Affiliation	Role
World Food Programme (WFP)	United Nations	Source of market price data
Food and Agriculture Organization (FAO)	United Nations	Source of market price data

Data collection

Dates of Data Collection

Start	End
2007/01/01	2024/11/01

Time periods

Start date	End date
2007/01/01	2024/11/01

Sources

Data source	Origin of source	Characteristics
World Food Programme (WFP)	https://data.humdata.org/organization/wfp?vocab_Topics=prices	World Food Programme (WFP); data published in the Humanitarian Data Exchange (HDX) data catalog at https://data.humdata.org/
Food and Agriculture Organization (FAO)	https://fpma.fao.org/giews/fpmat4/#/dashboard/tool/domestic	Local exchange rates and implied exchange rates data derived from commodity pairs published by FAO through the Food Price Monitoring and Analysis (FMPA) Tool

Access policy

Location of Data Collection

World Bank Microdata Library, FCV Collection

URL for Location of Data Collection

https://microdatalib.worldbank.org

Data Access

Access authority

Name	Affiliation	URL
Data Help Desk	World Bank, Development Data Group	https://datahelpdesk.worldbank.org/

Restrictions

The estimates presented in this dataset are all based on publicly-available data.
The dataset of price estimates is published as open data.

Disclaimer and copyrights

Disclaimer

The RTFX data and metadata provided are "as is" and "as available," and every effort is made to ensure their timeliness, accuracy, and completeness. When errors are discovered, they are corrected as appropriate and feasible. For details on the terms and conditions for usage of the RTFX database, please refer to the license details.

Additional metadata

Ticker info

ISO	Country	Title	Unit	Food index weight	Data coverage	Imputation
SEN	Senegal	Unofficial exchange rate (Parallel-market Estimate)(FAO GIEWS completed with Int. Forex)	USD/LCU	0	100%	n/a
SEN	Senegal	Food Price Index	LCU, Indexed, January 2018 = 1	Laspreyes	52.42%	0.83
SEN	Senegal	Maize (local)	KG	1	47.38%	0.81
SEN	Senegal	Millet	KG	1	62.58%	0.83
SEN	Senegal	Rice (imported)	KG	1	55.7%	0.87
SEN	Senegal	Sorghum	KG	1	40.79%	0.81

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Monthly currency exchange rate estimates by market Senegal, 64 markets, 2007/01/01-2024/11/01, version 2024-11-18