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For immediate release: June 6, 2006

DOLLAR DECLINES 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 declined 2.6 percent. The dollar was down on all subindexes in May, with the Europe measure recording the largest decline—4.3 percent. The Pacific and the Pacific-excluding-Japan subindexes were also lower in May—down 2.5 and 1.1 percent, respectively. The Americas subindex declined 1.8 percent during the month. The classic subindex, which is the analogue of the original Atlanta index, fell 3.1 percent in May. The overall index was also down 3.1 percent in May from a year ago. On a daily basis, the overall index’s level at the end of May was 0.6 percent lower than its reading at the end of April and was 3.5 percent below its level at the end of May 2005.

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 2006 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
05/06 107.132 106.422 97.377 114.472 111.495 98.219
04/06 110.016 108.334 101.725 117.464 112.761 101.396
05/05 110.593 115.760 97.906 114.192 114.709 101.689
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
04/06–05/06 –2.6 –1.8 –4.3 –2.5 –1.1 –3.1
05/05–05/06 –3.1 –8.1 –0.5 0.3 –2.8 –3.4
05/95–05/06 10.5 9.6 –1.9 20.1 12.9 0.8
Daily Data
Levels:
05/31/06 107.356 106.821 96.950 114.976 111.959 98.093
04/28/06 108.040 106.864 98.827 115.517 111.797 99.271
05/31/05 111.288 115.195 100.409 114.864 114.844 102.559
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
03/31/06–05/31/06 –0.6 0.0 –1.9 –0.5 0.1 –1.2
05/31/05–05/31/06 –3.5 –7.3 –3.4 0.1 –2.5 –4.4
05/08/95–05/31/06 12.1 10.6 0.3 22.0 13.6 1.9

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