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For immediate release: April 9, 2007

Dollar Depreciates in March

The average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 0.6 percent in March from the previous month. Except for the Americas subindex, which increased 0.1 percent, all other subindexes declined in March. The Pacific subindex dropped 1.2 percent, followed by a 0.9 percent decline in the Europe subindex and a 0.1 percent decrease in the Pacific-excluding-Japan measure. The classic subindex, which is the analogue of the original Atlanta index, dropped 0.8 percent in March. The overall index in March was 2.4 percent below its level a year ago. On a daily basis, the overall index declined 0.9 percent from the end of February to the end of March and was down 3.3 percent from its value at the end of March 2006.

The Atlanta Fed index is based on 1995–97 bilateral trade weights for 15 currencies. The European subindex includes the European Monetary Union, Switzerland and the United Kingdom. The Pacific subindex includes Australia, China, Hong Kong, Japan, Malaysia, Singapore, South Korea and Taiwan. The Americas subindex includes Brazil, Canada and Mexico. The overall dollar index includes the Saudi Arabian riyal along with the foregoing 14 currencies. The classic subindex includes the European Monetary Union, Switzerland, the United Kingdom, Australia, China, Hong Kong, Japan, Singapore, South Korea, Taiwan, Saudi Arabia and Canada. All figures are indexes and not actual exchange rates. A rise in the index or subindex reflects a strengthening of the dollar against currencies included.


ATLANTA FED DOLLAR INDEXES: APRIL 2007 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
03/07 108.114 109.914 93.953 116.061 110.364 99.428
02/07 108.753 109.755 94.779 117.415 110.443 100.250
03/06 110.754 108.340 103.625 118.213 113.840 102.507
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
02/07–03/07 –0.6 0.1 –0.9 –1.2 –0.1 –0.8
03/06–03/07 –2.4 1.5 –9.3 –1.8 –3.1 –3.0
05/95–03/07 11.5 13.2 –5.3 21.8 11.8 2.0
Daily Data
Levels:
03/30/07 107.381 108.687 93.058 115.936 109.967 98.771
02/28/07 108.390 110.234 93.890 116.548 110.450 99.633
03/31/06 111.004 109.425 102.996 118.181 113.654 102.590
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
02/28/07–03/30/07 –0.9 –1.4 –0.9 –0.5 –0.4 –0.9
03/31/06–03/30/07 –3.3 –0.7 –9.6 –1.9 –3.2 –3.7
05/08/95–03/30/07 12.2 12.6 –3.8 23.0 11.6 2.6

Based on 1995–97 bilateral trade weights for 15 currencies. Technical details of country selection, weighting and index construction are available in the June/July 1986, Summer 1987, September/October 1990 and Third Quarter 1999 issues of the Atlanta Fed's Economic Review.

Atlanta Fed Dollar Indexes Table: History