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For immediate release: June 7, 2007

Dollar Down Again in May

The average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 0.9 percent in May from the previous month—its fourth consecutive monthly decline. The Americas subindex dropped 2.9 percent, while the Pacific-excluding-Japan subindex fell 0.2 percent. These declines were partially offset by a 0.5 percent gain on the Pacific subindex and a 0.1 percent rise on the European subindex. The classic subindex, which is the analogue of the original Atlanta index, fell 0.8 percent in May. The overall index in May was down 1.2 percent from a year ago. On a daily basis, the overall index fell 0.6 percent from the end of April to the end of May and was 1.9 percent below its level at the end of May 2006.

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 2007 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
05/07 105.828 104.257 92.216 116.896 109.447 97.468
04/07 106.749 107.317 92.165 116.269 109.616 98.206
05/06 107.132 106.422 97.337 114.472 111.495 98.219
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
04/07–05/07 –0.9 –2.9 0.1 0.5 –0.2 –0.8
05/06–05/07 –1.2 –2.0 –5.3 2.1 –1.8 –0.8
05/95–05/07 9.2 7.4 –7.1 22.7 10.9 0.0
Daily Data
Levels:
05/31/07 105.276 102.293 92.601 117.180 109.275 97.034
04/30/07 105.885 105.416 91.300 116.489 109.642 97.337
05/31/06 107.356 106.821 96.950 114.976 111.959 98.093
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
04/30/07–05/31/07 –0.6 –3.0 1.4 0.6 –0.3 –0.3
05/31/06–05/31/07 –1.9 –4.2 –4.5 1.9 –2.4 –1.1
05/08/95–05/31/07 10.0 5.9 –4.2 24.3 10.9 0.8

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