January 2003 (December data)
January 2003 (December data)For immediate release: Jan. 7, 2003
DOLLAR DOWN IN DECEMBER
In December the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta fell 0.5 percent, its second straight monthly decline. Decreases were registered on all subindexes except the Pacific measure, which was largely unchanged. The European measure registered the largest decline at 1.6 percent. The classic subindex, which is the analogue of the original Atlanta index, declined 0.6 percent in December. The overall index in December was 2.4 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of December was down 1.3 percent from its reading at the end of November and was down 3.7 percent from its level at the end of December 2001.
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: JANUARY 2003 UPDATE
(1995 = 100)