facebook twitter email print
Press Release
U.S Monetary Authorities Did Not Intervene in FX Market during the First Quarter
May 5, 2005

NEW YORK – The U.S. monetary authorities did not intervene in the foreign exchange markets during the January – March quarter, the Federal Reserve Bank of New York said today in its quarterly report to the U.S. Congress.

During the three months that ended March 31, 2005, the dollar appreciated approximately 4.5 percent against both the euro and the yen. In this period, the dollar’s trade-weighted exchange value rose by 2.9 percent, as measured by the Federal Reserve’s major currencies index.

The report was presented by Dino Kos, executive vice president of the New York Fed and the Federal Open Market Committee’s (FOMC) manager for the system open market account, on behalf of the Treasury and the Federal Reserve System.

Full Report pdf
9 pages / 206 kb

Media Relations 

By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement.   Close