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For immediate release: March 8, 2004

DOLLAR REBOUNDS IN FEBRUARY

In February the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta rose 0.6 percent, its first monthly gain since August 2003. The dollar rose 2.2 percent on the Americas subindex, which offset modest declines on the European, Pacific, and Pacific-excluding-Japan subindexes. The classic subindex, which is the analogue of the original Atlanta index, was up 0.5 percent. The overall index in February was 9.0 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of February was 0.7 percent above its reading at the end of January but was 7.8 percent below its level at the end of February 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: MARCH 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
02/04 113.759 121.476 98.210 117.048 119.547 104.648
01/04 113.057 118.896 98.696 117.268 120.275 104.087
02/03 125.028 133.215 114.418 124.895 123.464 116.566
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
01/04–02/04 0.6 2.2 -0.5 -0.2 -0.6 0.5
02/03–02/04 -9.0 -8.8 -14.2 -6.3 -3.2 -10.2
05/95–02/04 17.4 25.1 -1.0 22.8 21.1 7.4
Daily Data
Levels:
02/27/04 114.889 122.169 99.562 118.464 120.021 105.849
01/30/04 114.054 121.187 99.896 116.908 119.985 104.997
02/28/03 124.552 132.053 114.991 124.339 123.339 115.948
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
01/30/04–02/27/04 0.7 0.8 -0.3 1.3 0.0 0.8
02/28/03–02/27/04 -7.8 -7.5 -13.4 -4.7 -2.7 -8.7
05/08/95–02/27/04 20.0 26.5 3.0 25.7 21.8 10.0

 

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