In December the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta declined 0.9 percent to its lowest level since January 1997. The dollar was down on all subindexes except for the Americas, which rose 0.6 percent in December. The European subindex registered a 3.1 percent decline, while the Pacific and Pacific-excluding-Japan subindexes both declined 1.0 percent. The classic subindex, which is the analogue of the original Atlanta index, declined 0.8 percent in December. The overall index in December was 5.4 percent below its year-ago level. On a daily basis, the overall index’s level at the end of December was 0.4 percent below its reading at the end of November and was 5.2 percent below its level at the end of December 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: JANUARY 2005 UPDATE (1995 = 100) | ||||||
| Atlanta Fed Overall Index | Monthly Subindexes | |||||
| Americas | Europe | Pacific | Pacific excluding Japan | Classic | ||
| Monthly Averages | ||||||
| Levels: | ||||||
| 12/04 | 108.816 | 114.779 | 93.026 | 113.810 | 116.195 | 99.283 |
| 11/04 | 109.750 | 114.057 | 96.007 | 114.903 | 117.397 | 100.034 |
| 12/03 | 115.066 | 121.124 | 101.702 | 118.428 | 121.136 | 105.802 |
| 05/95 (low) | 96.925 | 97.085 | 99.231 | 95.303 | 98.733 | 97.435 |
| Percent change: | ||||||
| 11/04–12/04 | -0.9 | 0.6 | -3.1 | -1.0 | -1.0 | -0.8 |
| 12/03–12/04 | -5.4 | -5.2 | -8.5 | -3.9 | -4.1 | -6.2 |
| 05/95–12/04 | 12.3 | 18.2 | -6.3 | 19.4 | 17.7 | 1.9 |
| Daily Data | ||||||
| Levels: | ||||||
| 12/31/04 | 107.883 | 114.223 | 92.928 | 112.839 | 115.522 | 98.739 |
| 11/30/04 | 108.347 | 113.148 | 93.983 | 113.413 | 116.109 | 98.718 |
| 12/31/03 | 113.836 | 119.788 | 99.431 | 117.989 | 120.850 | 104.503 |
| 05/08/95 (low) | 95.740 | 96.549 | 96.705 | 94.236 | 98.571 | 96.238 |
| Percent change: | ||||||
| 11/30/04–12/31/04 | -0.4 | 1.0 | -1.1 | -0.5 | -0.5 | 0.0 |
| 12/31/03–12/31/04 | -5.2 | -4.6 | -6.5 | -4.4 | -4.4 | -5.5 |
| 05/08/95–12/31/04 | 12.7 | 18.3 | -3.9 | 19.7 | 17.2 | 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.
