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For immediate release: June 7, 2004

DOLLAR UP AGAIN IN MAY

In May the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta rose 2.0 percent, its fourth consecutive monthly gain. The dollar rose 2.8 percent on the Americas subindex, 2.4 percent on the Pacific subindex and 1.2 percent on the Pacific-excluding-Japan subindex. The European subindex registered a modest 0.1 percent gain in May. The classic subindex, which is the analogue of the original Atlanta index, was up 1.9 percent in May. The overall index in May was 0.9 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of May was 0.5 percent below its reading at the end of April and was 1.9 percent below its level at the end of May 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: JUNE 2004 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
05/04 117.965 126.335 103.154 120.251 120.858 108.477
04/04 115.668 122.911 103.060 117.397 119.416 106.446
05/03 119.096 122.090 108.428 123.746 122.960 111.498
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
04/04–05/04 2.0 2.8 0.1 2.4 1.2 1.9
05/03–05/04 –0.9 3.5 –4.9 –2.8 –1.7 –2.7
05/95–05/04 21.7 30.1 4.0 26.2 22.4 11.3
Daily Data
Levels:
05/28/04 116.606 125.274 101.105 119.049 120.325 107.125
04/30/04 117.250 125.161 103.527 119.176 120.397 107.970
05/30/03 118.889 121.707 106.739 124.732 123.075 111.121
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
04/30/04–05/28/04 –0.5 0.1 –2.3 –0.1 –0.1 –0.8
05/30/03–05/28/04 –1.9 2.9 –5.3 –4.6 –2.2 –3.6
05/08/95–05/28/04 21.8 29.8 4.6 26.3 22.1 11.3

 

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