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For immediate release: Aug. 8, 2002

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: AUGUST 2002 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
07/02 125.344 129.453 122.808 123.920 122.865 119.162
06/02 127.224 128.135 127.934 126.986 124.144 121.506
07/01 129.809 125.119 140.421 129.554 127.530 125.705
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
06/02-07/02 -1.5 1.0 -4.0 -2.4 -1.0 -1.9
07/01-07/02 -3.4 3.5 -12.5 -4.3 -3.7 -5.2
05/95-07/02 29.3 33.3 23.8 30.0 24.4 22.3
Daily Data
Levels:
07/31/02 127.263 132.790 124.011 125.027 123.375 120.826
06/28/02 125.787 128.503 124.190 125.126 123.483 119.443
07/31/01 129.353 124.956 138.477 129.607 127.296 125.252
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
06/28/02-07/31/02 1.2 3.3 -0.1 -0.1 -0.1 1.2
07/31/01-07/31/02 -1.6 6.3 -10.4 -3.5 -3.1 -3.5
05/08/95-07/31/02 32.9 37.5 28.2 32.7 25.2 25.5

 

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