|For immediate release: October 9, 2001
DOLLAR UP MODESTLY IN SEPTEMBERIn September the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta rose 0.3 percent. A 2.4 percent gain on the Americas subindex and a 0.2 percent increase on the Pacific-excluding-Japan measure were partially offset by a 1.3 percent drop on the European subindex and a 0.8 percent decline on the Pacific subindex. The classic subindex, which is the analogue of the original Atlanta index, was down 0.2 percent. The overall index in September was 4.0 percent higher than its year-ago level. On a daily basis, the overall indexs level at the end of September was 1.1 percent above its reading at the end of August and was 4.3 percent above its level at the end of September 2000.
The Atlanta Fed index is based on 199597 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.