Press Releases

DOLLAR SLIDES FURTHER IN JULY

In July the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 1.5 percent, its fifth consecutive monthly decline. Decreases were registered on all subindexes except the Americas measure, which was up 1 percent from June. The European subindex registered the largest decline at 4 percent while the Pacific subindex registered a 2.4 percent decrease. The Pacific-excluding-Japan measure decreased 1 percent for the month. The classic subindex, which is the analogue of the original Atlanta index, was down 1.9 percent in July. The overall index in July was 3.4 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of July was up 1.2 percent from its reading at the end of June but was 1.6 percent below its level at the end of July 2001.

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 Table: History