Board of Governors of the Federal Reserve System

dollar with respect to European currencies but not the yen. On the basis

dollars Total2 Nonborrowed3 Required Reserves of depository institutions...dollars Date 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 79 28 0 0 0 0 0 0 0 0

dollar exchange rates. As a result, through early March, dollar exchange...dollar positions against the mark. On March 11, as the dollar moved up

Euro-dollar market, reactions in other financial markets abroad have been...dollars Balance on regular trans. - 2.3 - 2.7 - .9 - 3.3 Exports 1/ 25.2

dollars 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1 Credit market...dollars 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1 Domestic 958.8

dollars 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 1 Credit market...dollars 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 1 Domestic 678.1

dollar to decline. With psychology so negative, the dollar fell abruptly...dollar. Subsequently the dollar has continued to hold above its early

dollars; amounts outstanding end of period, not seasonally adjusted 2005...dollars; amounts outstanding end of period, not seasonally adjusted 2005

Euro-dollar market . .. Balance of payments. .... U.S. foreign trade ....dollars, with quarterly figures at annual rates.) 1972 1973 1972 1973

dollars per month. Such a volume is about half as much as the exceptionally