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)