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For immediate release: August 9, 2004

DOLLAR DOWN 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 declined 0.8 percent. The dollar was down on all subindexes in July except the Pacific subindex, which registered no change. A 1.7 percent decline on the Americas index and a 0.9 percent decline on the European subindex pushed the overall index down in July. The Pacific-excluding-Japan subindex declined a modest 0.1 percent. The classic subindex, which is the analogue of the original Atlanta index, was down 1.0 percent in July. The overall index in July was 3.5 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of July was 0.2 percent above its reading at the end of June but was 3.8 percent below its level at the end of July 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: AUGUST 2004 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
07/04 115.502 122.627 100.644 118.913 120.619 105.923
06/04 116.491 124.714 101.579 118.937 120.701 107.015
07/03 119.744 122.548 109.970 123.993 122.415 111.982
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
06/04–07/04 -0.8 -1.7 -0.9 0.0 -0.1 -1.0
07/03–07/04 -3.5 0.1 -8.5 -4.1 -1.5 -5.4
05/95–07/04 19.2 26.3 1.4 24.8 22.2 8.7
Daily Data
Levels:
07/30/04 116.514 122.855 102.527 120.089 121.188 107.095
06/30/04 116.291 124.089 101.580 118.982 120.781 106.640
07/31/03 121.123 124.631 111.171 124.845 122.608 113.253
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
06/30/04–07/30/04 0.2 -1.0 0.9 0.9 0.3 0.4
07/31/03–07/30/04 -3.8 -1.4 -7.8 -3.8 -1.2 -5.4
05/08/95–07/30/04 21.7 27.2 6.0 27.4 22.9 11.3

 

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 Indexes Table: History