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For immediate release: Jan. 7, 2003

DOLLAR DOWN IN DECEMBER

In December the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 0.5 percent, its second straight monthly decline. Decreases were registered on all subindexes except the Pacific measure, which was largely unchanged. The European measure registered the largest decline at 1.6 percent. The classic subindex, which is the analogue of the original Atlanta index, declined 0.6 percent in December. The overall index in December was 2.4 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of December was down 1.3 percent from its reading at the end of November and was down 3.7 percent from its level at the end of December 2001.

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: JANUARY 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
12/02 127.021 133.303 119.893 126.488 124.301 119.789
11/02 127.654 133.811 121.839 126.435 124.416 120.564
12/01 130.183 127.373 136.137 130.685 127.266 126.277
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
11/02-12/02 -0.5 -0.4 -1.6 0.0 -0.1 -0.6
12/01-12/02 -2.4 4.7 -11.9 -3.2 -2.3 -5.1
05/95-12/02 31.1 37.3 20.8 32.7 25.9 22.9
Daily Data
Levels:
12/31/02 126.240 135.069 116.847 124.773 123.684 118.684
11/29/02 127.951 133.481 122.926 126.831 124.288 120.898
12/31/01 131.058 127.954 135.875 132.557 127.979 127.339
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
11/29/02-12/31/02 -1.3 1.2 -4.9 -1.6 -0.5 -1.8
12/31/01-12/31/02 -3.7 5.6 -14.0 -5.9 -3.4 -6.8
05/08/95-12/31/02 31.9 39.9 20.8 32.4 25.5 23.3
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 Indexes Table: History