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For immediate release: Feb. 7, 2008

Dollar Depreciated in January

The average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta decreased 0.7 percent in January from the previous month. The dollar posted the greatest loss against the Pacific subindex, falling 2.1 percent, followed by 0.7 and 0.5 percent losses in the Pacific-excluding-Japan and Europe subindexes, respectively. The dollar gained 0.6 percent against the Americas subindex. The classic subindex, which is the analogue of the original Atlanta index, was down 0.8 percent since December. The overall index was 8.7 percent below its year-ago level. On a daily basis, the overall index declined 1 percent percent from the end of December to the end of January and came in a considerable 9.7 percent below its value at the end of January 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: FEBRUARY 2008 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
01/08 99.504 98.517 86.326 109.410 105.860 90.875
12/07 100.196 97.897 86.773 111.765 106.589 91.620
01/07 109.006 110.080 95.254 117.437 110.510 100.517
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
12/07–01/08 –0.7 0.6 –0.5 –2.1 –0.7 –0.8
01/07–01/08 –8.7 –10.5 –9.4 –6.8 –4.2 –9.6
05/95–01/08 2.7 1.5 –13.0 14.8 7.2 –6.7
Daily Data
Levels:
01/31/08 98.720 97.731 85.594 108.563 105.208 90.161
12/31/07 99.751 97.164 86.861 111.213 106.184 91.088
01/31/07 109.265 110.461 95.218 117.789 110.708 100.719
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
12/31/07–01/31/08 –1.0 0.6 –1.5 –2.4 –0.9 –1.0
01/31/07–01/31/08 –9.7 –11.5 –10.1 –7.8 –5.0 –10.5
05/08/95–01/31/08 3.1 1.2 –11.5 15.2 6.7 –6.3

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