New summary measures of the foreign exchange value of the dollar

Michael P. Leahy

Federal Reserve Bulletin, 1998, vol. 84, issue Oct, 811-818

Abstract: The multilateral trade-weighted index of the foreign exchange value of the U.S. dollar against the currencies of the other countries in the Group of Ten (G-10), developed at the Federal Reserve Board in 1971, has played an important role in staff analysis of foreign influences on the U.S. economy for more than twenty-five years. However, changes in international trading relationships and in the structure of international financial markets have led to increased interest in the currencies of U.S. trading partners outside the G-10 countries. Furthermore, the establishment of the European Economic and Monetary Union (EMU) is bringing about significant changes inside the G-10 countries, with the euro, which will be introduced in January 1999, ultimately replacing five of the G-10 currencies. As a result, members of the Board's staff have developed several new indexes of the dollar's overall foreign exchange value.

Keywords: Foreign; exchange (search for similar items in EconPapers)
JEL-codes: F31 (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (41)

Downloads: (external link)
http://www.federalreserve.gov/pubs/bulletin/1998/1098lead.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgrb:y:1998:i:oct:p:811-818:n:v.84no.10

Ordering information: This journal article can be ordered from

DOI: 10.17016/bulletin.1998.84-10

Access Statistics for this article

More articles in Federal Reserve Bulletin from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().