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For immediate release: Dec. 8, 2003

DOLLAR SLIPS IN NOVEMBER

In November the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta declined 0.2 percent, its third consecutive monthly decline. The dollar was down slightly on most subindexes, with a 0.4 percent drop in the Americas subindex being the largest. The European subindex fell 0.1 percent while the Pacific subindex was down less than a tenth of a percentage point. The Pacific-excluding-Japan subindex registered a 0.2 percent increase. The classic subindex, which is the analogue of the original Atlanta index, was down 0.2 percent. The overall index in November was 8.8 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of November was 0.7 percent below its reading at the end of October and 9.4 percent below its level at the end of November 2002.

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: DECEMBER 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
11/03 116.479 120.797 106.517 119.229 121.402 107.470
10/03 116.704 121.330 106.600 119.261 121.211 107.720
11/02 127.654 133.811 121.839 126.435 124.416 120.564
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
10/03–11/03 –0.2 –0.4 –0.1 –0.0 0.2 –0.2
11/02–11/03 –8.8 –9.7 –12.6 –5.7 –2.4 –10.9
05/95–11/03 20.2 24.4 7.3 25.1 23.0 10.3
Daily Data
Levels:
11/28/03 115.935 120.672 104.069 119.554 121.691 106.551
10/31/03 116.806 120.780 107.130 119.708 121.517 107.985
11/29/02 127.951 133.481 122.926 126.831 124.288 120.898
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
10/31/03–11/28/03 –0.7 –0.1 –2.9 –0.1 0.1 –1.3
11/29/02–11/28/03 –9.4 –9.6 –15.3 –5.7 –2.1 –11.9
05/08/95–11/28/03 21.1 25.0 7.6 26.9 23.5 10.7

 

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