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For immediate release: August 7, 2008

Dollar Declined in July

The average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta dropped 0.7 percent in July from the previous month. The dollar fell in all the major subindexes, posting the greatest loss in the Europe subindex with a 1.2 percent decline. The Americas and the Pacific-excluding-Japan subindexes both lost 0.6 percent while the Pacific subindex fell 0.4 percent. The classic subindex, which is the analogue of the original Atlanta index, was down 0.6 percent. The overall index was 7 percent below its year-ago level in July. On a daily basis, the overall index rose 1.7 percent from the low reached on March 18 to the end of July. The daily index was 6.7 percent below its value at the end of July 2007.

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 2008 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
07/08 96.779 96.332 81.752 107.467 103.349 88.920
06/08 97.426 96.939 82.728 107.913 104.023 89.457
07/07 104.063 101.140 90.629 116.451 108.342 95.644
April 08 (low) 96.594 97.470 81.755 105.698 103.293 88.341
Percent change:
06/08–07/08 (month–month) –0.7 –0.6 –1.2 –0.4 –0.6 –0.6
07/07–07/08 –7.0 –4.8 –9.8 –7.7 –4.6 –7.0
04/08–07/08 0.2 –1.2 0.0 1.7 0.1 0.7
Daily Data
Levels:
07/31/08 97.333 96.559 82.545 108.200 103.699 89.752
06/30/08 97.049 96.923 81.724 107.626 104.063 89.095
07/31/07 104.288 102.399 90.670 115.659 108.516 95.754
03/18/08 (low) 95.739 96.802 81.169 104.410 104.333 87.186
Percent change:
06/30/08–07/31/08 0.3 –0.4 1.0 0.5 –0.3 0.7
07/31/07–07/31/08 –6.7 –5.7 –9.0 –6.4 –4.4 –6.3
03/18/08–07/31/08 1.7 –0.3 1.7 3.6 –0.6 2.9

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 Index Historical Data New item icon