Abstract: Between October 1980 and November 1982, the U.S. dollar appreciated substantially in foreign-exchange markets. Relative to the major currencies, the advance of the dollar ranged from 5 percent against the Canadian dollar to 69 percent against the French franc. On a trade-weighted average basis against 10 key currencies, the dollar appreciated 40 percent, fully offsetting its depreciation during the preceding decade. While the dollar has given up only a fraction of its trade-weighted advance since November 1982, many exchange-market analysts anticipate a further depreciation in the near future.
Publication Year: 1983
Publication Date: 1983-04-18
Language: en
Type: article
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Landing Page URL: https://www.clevelandfed.org/~/media/content/newsroom and events/publications/economic commentary/1983/ec 19830418 exchange rates and us prices pdf.pdf