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For immediate release: Nov. 6, 2003

DOLLAR DOWN AGAIN IN OCTOBER

In October the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta dropped 2.2 percent, its second consecutive monthly decline. The dollar was down on all subindexes, with a 3.8 percent drop on the European subindex leading the way. The classic subindex, which is the analogue of the original Atlanta index, was down 2.9 percent. The overall index in October was 9.5 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of October was 0.7 percent below its reading at the end of September and was down 8.8 percent from its level at the end of October 2002.

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: NOVEMBER 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
10/03 116.704 121.330 106.600 119.261 121.211 107.720
09/03 119.377 123.090 110.819 121.896 121.717 110.920
10/02 128.920 134.157 124.006 128.054 125.484 121.984
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
09/03-10/03 -2.2 -1.4 -3.8 -2.2 -0.4 -2.9
10/02-10/03 -9.5 -9.6 -14.0 -6.9 -3.4 -11.7
05/95-10/03 20.4 25.0 7.4 25.1 22.8 10.6
Daily Data
Levels:
10/31/03 116.806 120.780 107.130 119.708 121.517 107.985
09/30/03 117.586 122.613 107.259 119.939 120.901 108.850
10/31/02 128.023 133.111 123.220 127.181 124.828 121.018
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
09/30/03-10/31/03 -0.7 -1.5 -0.1 -0.2 0.5 -0.8
10/31/02-10/31/03 -8.8 -9.3 -13.1 -5.9 -2.7 -10.8
05/08/95-10/31/03 22.0 25.1 10.8 27.0 23.3 12.2

 

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