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For immediate release: April 7, 2004

DOLLAR UP AGAIN IN MARCH

In March the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta rose 0.9 percent, its second consecutive monthly gain. The dollar rose 2.9 percent on the European subindex, 0.9 percent on the Pacific subindex and 0.3 percent on the Pacific-excluding-Japan subindex. The only decline was a modest 0.1 percent decline on the Americas subindex. The classic subindex, which is the analogue of the original Atlanta index, was up 1.1 percent in March. The overall index in March was 7.6 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of March was 1.1 percent below its reading at the end of February and was 8.2 percent below its level at the end of March 2003.

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 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
03/04 114.829 121.298 101.040 118.089 119.946 105.847
02/04 113.759 121.476 98.210 117.048 119.547 104.648
03/03 124.319 130.722 114.734 125.144 124.354 115.943
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
02/04–03/04 0.9 -0.1 2.9 0.9 0.3 1.1
03/03–03/04 -7.6 -7.2 -11.9 -5.6 -3.5 -8.7
05/95–03/04 18.5 24.9 1.8 23.9 21.5 8.6
Daily Data
Levels:
3/31/04 113.598 120.703 100.640 115.621 119.055 104.308
02/27/04 114.889 122.169 99.562 118.464 120.021 105.849
03/31/03 123.731 129.667 113.976 125.081 124.700 115.558
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
02/27/04–03/31/04 -1.1 -1.2 1.1 -2.4 -0.8 -1.5
03/31/03–03/31/04 -8.2 -6.9 -11.7 -7.6 -4.5 -9.7
05/08/95–03/31/04 18.7 25.0 4.1 22.7 20.8 8.4

 

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