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For immediate release: February 7, 2005

DOLLAR UP MODESTLY 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 rose 0.5 percent. The dollar gained 2.3 percent on the European subindex and 0.4 percent on the Americas subindex but declined 0.4 percent on both the Pacific and Pacific-excluding-Japan subindexes. The classic subindex, which is the analogue of the original Atlanta index, rose 0.6 percent in January. The overall index in January was 3.2 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of January was 1.6 percent above its reading at the end of December 2004 but remained 3.9 percent below its level at the end of January 2004. (Please note that the daily data in the accompanying table contain revisions from the January 2005 Dollar Index press release.)

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 2005 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
01/05 109.389 115.278 95.165 113.331 115.731 99.850
12/04 108.816 114.779 93.026 113.810 116.195 99.283
01/04 113.057 118.896 98.696 117.268 120.275 104.087
05/95 (low)96.92597.08599.23195.30398.73397.435
Percent change:
12/04–01/05 0.5 0.4 2.3 -0.4 -0.4 0.6
01/04–01/05 -3.2 -3.0 -3.6 -3.4 -3.8 -4.1
05/95–01/05 12.9 18.7 -4.1 18.9 17.2 2.5
Daily Data
Levels:
01/31/05 109.638 115.849 95.531 113.189 115.324 100.246
12/31/04 107.883 113.551* 92.486* 112.839 115.395* 98.381*
01/30/04 114.054 121.187 99.896 116.908 119.985 104.997
05/08/95 (low)95.74096.54996.70594.23698.57196.238
Percent change:
12/31/04–01/31/05 1.6 2.0 3.3 0.3 -0.1 1.9
01/30/04–01/31/05 -3.9 -4.4 -4.4 -3.2 -3.9 -4.5
05/08/95–01/31/05 14.5 20.0 -1.2 20.1 17.0 4.2

* revised

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