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For immediate release: Feb. 6, 2003

DOLLAR DOWN AGAIN IN JANUARY

In January the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 1.4 percent, its third straight monthly decline. Decreases were registered on all subindexes except the Americas measure, which rose just 0.1 percent. The European measure registered the largest decline at 3.6 percent. The classic subindex, which is the analogue of the original Atlanta index, declined 2 percent in January. The overall index in January was 5 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of January was 0.8 percent below its reading at the end of December and was 5.6 percent below its level at the end of January 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: FEBRUARY 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
01/03 125.241 133.429 115.596 124.487 123.157 117.371
12/02 127.021 133.303 119.893 126.488 124.301 119.789
01/02 131.809 128.552 137.163 133.189 127.903 128.107
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
12/02-01/03 -1.4 0.1 -3.6 -1.6 -0.9 -2.0
01/02-01/03 -5.0 3.8 -15.7 -6.5 -3.7 -8.4
05/95-01/03 29.2 37.4 16.5 30.6 24.7 20.5
Daily Data
Levels:
01/31/03 125.192 133.856 114.225 124.856 122.954 116.863
12/31/02 126.240 135.069 116.847 124.773 123.684 118.684
01/31/02 132.624 128.148 140.553 133.787 127.957 129.025
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
12/31/02-01/31/03 -0.8 -0.9 -2.2 0.1 -0.6 -1.5
01/31/02-01/31/03 -5.6 4.5 -18.7 -6.7 -3.9 -9.4
05/08/95-01/31/03 30.8 38.6 18.1 32.5 24.7 21.4

 

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