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For immediate release: Aug. 7, 2007

Dollar Continued to Depreciate 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 1.3 percent in July—its sixth consecutive monthly decline. The dollar posted the biggest loss against the Europe subindex, dropping 2.3 percent in July. The Americas subindex fell 1.1 percent, followed by a 0.9 percent decline in the Pacific measure and a 0.8 percent drop in the Pacific-excluding-Japan subindex. The classic subindex, which is the analogue of the original Atlanta index, was down 1.4 percent in July. The overall index was 4.1 percent below its year-ago level. On a daily basis, the overall index declined 0.8 percent from the end of June to the end of July and was down 3.5 percent from its value at the end of July 2006.

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 2007 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
07/07 104.063 101.140 90.629 116.451 108.342 95.644
06/07 105.416 102.267 92.720 117.532 109.254 97.031
07/06 108.543 107.379 98.224 116.821 112.587 99.810
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
06/07–07/07 –1.3 –1.1 –2.3 –0.9 –0.8 –1.4
07/06–07/07 –4.1 –5.8 –7.7 –0.3 –3.8 –4.2
05/95–07/07 7.4 4.2 –8.7 22.2 9.7 –1.8
Daily Data
Levels:
07/31/07 104.288 102.399 90.670 115.659 108.516 95.754
06/29/07 105.151 102.036 91.990 117.572 108.885 96.788
07/31/06 108.079 107.246 97.450 116.205 112.482 99.407
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
06/29/07–07/31/07 –0.8 0.4 –1.4 –1.6 –0.3 –1.1
07/31/06–07/31/07 –3.5 –4.5 –7.0 –0.5 –3.5 –3.7
05/08/95–07/31/07 8.9 6.1 –6.2 22.7 10.1 –0.5

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