Foreign Exchange - Federal Reserve Bank of New York

Foreign Exchange

The Federal Reserve Bank of New York carries out foreign exchange-related activities on behalf of the Federal Reserve System and the U.S. Treasury. In this capacity, the Bank monitors and analyzes global financial market developments, manages the U.S. foreign currency reserves, and from time to time intervenes in the foreign exchange market. The Bank also executes foreign exchange transactions on behalf of customers. More ››

USD per Euro		Japanese Yen per USD

As a matter of convention, the dollar-yen exchange rate is expressed in yen per dollar. Hence, an increase in this rate indicates an increase in the value of the dollar versus the yen. In contrast, the euro-dollar exchange rate is expressed in dollars per euro. Thus an increase in this rate indicates a decline in the value of the dollar versus the euro.

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News and Announcements

U.S. Monetary Authorities Did Not Intervene in FX Markets during the Third Quarter
November 13, 2008

New York Fed to Discontinue Publication of Foreign Exchange Rates
October 2, 2007

New York Fed Considers Discontinuing Publication of Foreign Exchange Rates
The New York Fed is strongly considering discontinuing the publication of foreign exchange rates at the end of 2008, given the availability of alternative market-based sources for these rates. A final decision will be announced in September 2007. If you have further questions, please email fxrates@ny.frb.org.
August 2 , 2007

FX Volume Survey Results PDF

The Foreign Exchange Commitee releases the Survey of North American Foreign Exchange Volume for the April 2007 reporting period.

July 31, 2007

Research Highlights

Exchange Rate Changes and Net Positions of Speculators in the Futures Market
Traders, strategists and other participants in the currency markets continuously seek to understand and interpret short-term exchange rate movements. In this article, the authors pursue a transaction-oriented line of research to track short-term exchange rate moves.
Economic Policy Review 10(1), May 2004

Industry-Specific Exchange Rates for the United States
The trade-weighted exchange rates constructed for the aggregate U.S. economy do not always capture the changes in industry competitive conditions induced by movements in specific bilateral exchange rates. This article constructs three industry-specific real exchange rate measures.
Economic Policy Review 10(1), May 2004