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For immediate release: Nov. 8, 2004

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 declined 1.7 percent. The dollar was down on each of the subindexes in October with a 2.4 percent drop on the Americas measure leading the way. The European subindex registered a 1.9 percent decline, while the Pacific and Pacific-excluding-Japan subindexes decreased 0.8 and 0.6 percent, respectively. The classic subindex, which is the analogue of the original Atlanta index, was down 1.8 percent in October. The overall index in October was 3.1 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of October was down 2.1 percent from its reading at the end of September and was 4.5 percent below its level at the end of October 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: NOVEMBER 2004 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
10/04 113.069 117.410 99.622 118.091 119.744 103.518
09/04 114.981 120.281 101.600 119.083 120.450 105.453
10/03 116.704 121.330 106.600 119.261 121.211 107.720
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
09/04–10/04 -1.7 -2.4 -1.9 -0.8 -0.6 -1.8
10/03–10/04 -3.1 -3.2 -6.5 -1.0 -1.2 -3.9
05/95–10/04 16.7 20.9 0.4 23.9 21.3 6.2
Daily Data
Levels:
10/29/04 111.510 116.186 97.803 116.327 118.818 101.684
09/30/04 113.948 118.481 100.198 119.024 120.267 104.478
10/31/03 116.806 120.780 107.130 119.708 121.517 107.985
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
09/30/04–10/29/04 -2.1 -1.9 -2.4 -2.3 -1.2 -2.7
10/31/03–10/29/04 -4.5 -3.8 -8.7 -2.8 -2.2 -5.8
05/08/95–10/29/04 16.5 20.3 1.1 23.4 20.5 5.7

 

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