What the US dollar index measures
The Federal Reserve’s nominal broad dollar index measures the value of the US dollar against the currencies of 26 economies, weighted by how much the United States trades with each. The largest weights go to the euro area, China, Mexico, Canada and Japan. The index is set to 100 in January 2006 and is shown here as a monthly average of daily values.
How to read this chart
A rising line means a stronger dollar: each dollar buys more foreign currency. The dollar tends to jump in global crises, when investors rush into US Treasuries, and to strengthen when US interest rates rise relative to rates abroad. This is the Fed’s trade-weighted index; the “DXY” quoted in financial news covers only six currencies and is dominated by the euro.
The latest reading in context
- At 121.48, the latest reading is above its 5-year average of 121.09 and above its 10-year average of 117.71.
- That is higher than 90% of all monthly readings since January 2006 – near the top of its historical range.
- Direction: up 1.9% over the past month; up 2.1% over the past six months; up 0.6% over the past year.
- The highest value on record is 128.84 (January 2025, last year); the lowest is 86.32 (July 2011, 15 years ago).
- The full history spans 2 US recessions, shaded grey on the chart.
Why it matters
A strong dollar makes imports and foreign travel cheaper for Americans and helps hold down inflation, but it makes US exports more expensive and shrinks the dollar value of profits that US companies earn abroad. Around the world, a strong dollar raises the burden of dollar-denominated debt, which is why it often coincides with stress in emerging markets.
What moves the US dollar index
- US interest rates compared with rates abroad
- Safe-haven demand in crises
- Relative economic growth
- Trade flows and tariffs
- Central bank interventions
Key moments in its history
- 2008Jumped during the financial crisis as investors sought safety in US assets.
- 2014–2015Rose sharply as the Fed prepared to raise rates while Europe and Japan eased.
- Mar 2020Spiked in the pandemic dash for cash.
- 2022Climbed steeply as the Fed raised rates much faster than other central banks.
- 2025Fell in the first half of the year amid uncertainty over tariffs.
US Dollar Index (Broad) data tables
Average by decade
| Decade | Average | High | Low |
|---|---|---|---|
| 2020s (so far) | 119.56 | 128.84 | 111.21 |
| 2010s | 102.37 | 117.90 | 86.32 |
| 2000s | 95.02 | 103.44 | 86.45 |
Last 12 months
| Period | Value | Change |
|---|---|---|
| Oct 2026 | 121.48 | +1.9% |
| Sep 2026 | 119.22 | +0.3% |
| Aug 2026 | 118.85 | −1.4% |
| Jul 2026 | 120.60 | +0.4% |
| Jun 2026 | 120.08 | +1.1% |
| May 2026 | 118.78 | −0.2% |
| Apr 2026 | 119.04 | −0.7% |
| Mar 2026 | 119.92 | +1.7% |
| Feb 2026 | 117.91 | −1.1% |
| Jan 2026 | 119.23 | −0.8% |
| Dec 2025 | 120.19 | −1.0% |
| Nov 2025 | 121.42 | +0.5% |
Monthly values. Decade figures are averages of the monthly values in each decade. The complete history is available as a CSV file.
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US Dollar Index (Broad): questions and answers
What is the difference between this index and the DXY?
The DXY, published by ICE, compares the dollar with six currencies and gives the euro a weight of almost 58%. The Fed’s broad index covers 26 economies weighted by actual US trade, including China and Mexico, so it better reflects the dollar’s value for the US economy.
Is a strong dollar good or bad?
Both. It lowers prices for imports and travel and helps contain inflation, but it hurts exporters, manufacturers and US companies with large foreign sales, and it tightens financial conditions abroad.
Where does the data on this chart come from?
From the Board of Governors of the Federal Reserve System. ChartWidgets downloads the series (DTWEXBGS) from FRED, the Federal Reserve Bank of St. Louis database, and checks for new releases every day. The last update was on November 4, 2026.