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For immediate release: April 7, 2008

Dollar Reached New Low in March

The average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta decreased 2 percent in March from the previous month, reaching 96.617, below the index's previous low of 96.925 set in May 1995. The dollar posted the greatest loss against the Europe subindex, falling 4.3 percent. The Pacific and Pacific-excluding-Japan subindexes dropped 2.8 and 0.7 percent, respectively, in March. The dollar gained 0.1 percent in the Americas subindex. The classic subindex, which is the analogue of the original Atlanta index, was down 2.3 percent since January. The overall index was 10.6 percent below its year-ago level. On a daily basis, the overall index declined 0.2 percent from the end of February to the end of March and was 10 percent below its value at the end of March 2007.

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 2008 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
03/08 96.617 97.436 82.450 105.259 103.922 88.086
02/08 98.635 97.310 86.199 108.322 104.616 90.170
03/07 108.114 109.914 93.953 116.061 110.364 99.428
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
02/08–03/08 –2.0 0.1 –4.3 –2.8 –0.7 –2.3
03/07–03/08 –10.6 –11.4 –12.2 –9.3 –5.8 –11.4
05/95–03/08 –0.3 0.4 –16.9 10.4 5.3 –9.6
Daily Data
Levels:
03/31/08 96.677 98.821 81.430 104.756 103.734 88.214
02/29/08 96.873 95.855 84.032 106.485 103.544 88.386
03/30/07 107.381 108.687 93.058 115.936 109.967 98.771
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
02/29/08–03/31/08 –0.2 3.1 –3.1 –1.6 0.2 –0.2
03/30/07–03/31/08 –10.0 –9.1 –12.5 –9.6 –5.7 –10.7
05/08/95–03/31/08 1.0 2.4 –15.8 11.2 5.2 –8.3

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 Index Historical Data New item icon