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For immediate release: Sept. 7, 2005

DOLLAR DEPRECIATED IN AUGUST

In August the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 1.2 percent. The dollar was down on all subindexes. The European subindex registered a 2.2 percent decline while the Americas and Pacific subindexes each fell 1.0 percent and the Pacific-excluding-Japan index fell 0.8 percent. The classic subindex, which is the analogue of the original Atlanta index, was down 1.5 percent in August. The overall index in August was 4.3 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of August was down 1.0 percent from its reading at the end of July and was 4.2 percent below its level at the end of August 2004.

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: SEPTEMBER 2005 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
08/05 110.601 111.534 101.166 116.140 115.071 102.170
07/05 111.996 112.641 103.414 117.298 116.041 103.676
08/04 115.563 121.727 101.458 119.364 120.823 106.106
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
07/05–08/05 -1.2 -1.0 -2.2 -1.0 -0.8 -1.5
08/04–08/05 -4.3 -8.4 -0.3 -2.7 -4.8 -3.7
05/95–08/05 14.1 14.9 2.0 21.9 16.5 4.9
Daily Data
Levels:
08/31/05 110.566 110.929 100.838 116.888 116.160 101.995
07/29/05 111.653 112.623 102.724 116.840 115.063 103.406
08/31/04 115.417 121.779 101.731 118.718 120.657 106.017
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
07/29/05–08/31/05 -1.0 -1.5 -1.8 0.0 1.0 -1.4
08/31/04–08/31/05 -4.2 -8.9 -0.9 -1.5 -3.7 -3.8
05/08/95–08/31/05 15.5 14.9 4.3 24.0 17.8 6.0

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