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For immediate release: Dec. 7, 2004

DOLLAR SLIDE CONTINUES 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 2.9 percent to its lowest level since June 1997. The dollar was down on all subindexes in November with a 3.6 percent drop on the European subindex leading the way. The Americas subindex registered a 2.9 percent decline, while the Pacific and Pacific-excluding-Japan subindexes declined 2.7 and 2.0 percent, respectively. The classic subindex, which is the analogue of the original Atlanta index, declined 3.4 percent in November. The overall index in November was 5.8 percent below its year-ago level. On a daily basis, the overall index’s level at the end of November was 2.8 percent below its reading at the end of October and was 6.5 percent below its level at the end of November 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: DECEMBER 2004 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
11/04 109.750 114.057 96.007 114.903 117.397 100.034
10/04 113.069 117.410 99.622 118.091 119.744 103.518
11/03 116.479 120.797 106.517 119.229 121.402 107.470
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
10/04–11/04 -2.9 -2.9 -3.6 -2.7 -2.0 -3.4
11/03–11/04 -5.8 -5.6 -9.9 -3.6 -3.3 -6.9
05/95–11/04 13.2 17.5 -3.2 20.6 18.9 2.7
Daily Data
Levels:
11/30/04 108.347 113.148 93.983 113.413 116.109 98.718
10/29/04 111.510 116.186 97.803 116.327 118.818 101.684
11/28/03 115.935 120.672 104.069 119.554 121.691 106.551
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
10/29/04–11/30/04 -2.8 -2.6 -3.9 -2.5 -2.3 -2.9
11/28/03–11/30/04 -6.5 -6.2 -9.7 -5.1 -4.6 -7.4
05/08/95–11/30/04 13.2 17.2 -2.8 20.3 17.8 2.6

 

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