Data through: Oct 30, 2026 · updated Nov 3 · Updates: Daily
WThe three bars show the last 3 weeks for this indicator, oldest left to newest right. Bar height reflects each reading relative to the other two — the tallest is the highest of the three, the shortest the lowest.
Historical context: Currently in the 91st percentile historically — elevated vs historical norms.
What this means right now: The broad dollar is strong — between 116.8 and 125, a level held mostly in 2019–20 and since 2022. A stronger dollar raises the cost of dollar debt for emerging-market borrowers.
Broad USD Index (DTWEXBGS) · Daily · 2006–2026
NBER recessions
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Monthly values
Broad USD Index (DTWEXBGS) — the last 12 months
Every month's reading, with the band the heatmap gives it. The chart above shows the same series in full.
Month
Value
Band
Oct 2026
121.7
Concerning reading
Sep 2026
121.0
Concerning reading
Aug 2026
118.6
Concerning reading
Jul 2026
119.7
Concerning reading
Jun 2026
120.9
Concerning reading
May 2026
118.9
Concerning reading
Month-end readings of the same series as the chart. Values are the current record, not point-in-time: a month that has since been revised shows its revised value.
What is the Broad Dollar Index?
The Nominal Broad US Dollar Index (FRED: DTWEXBGS) measures the dollar against the currencies of 26 major trading partners, weighted by trade. The Federal Reserve publishes it daily, indexed to January 2006 = 100. Unlike the six-currency DXY, which the euro dominates, it includes emerging-market currencies such as the Chinese renminbi, the Mexican peso and the Korean won.
In the site's Forward Stress gauge a rising dollar counts as tighter global financial conditions, because most cross-border loans and commodities are priced in dollars. The record backs the direction, not the level. Since 2007 the OFR's emerging-markets stress pillar has tracked the dollar's twelve-month change (a correlation of 0.44), not its level (−0.13). In four of the 6 emerging-market stress spikes since 2008, counted as the emerging-markets stress page counts them, the dollar had risen over the six months before.
That is why this page colours the dollar in one direction, higher = worse, while the DXY page colours both extremes. In the Forward Stress gauge the broad dollar carries 6.5 of the 100 points of weight.
How We Color-Code the Broad Dollar Index
Our heatmap colors this indicator against historically significant thresholds:
Below 93.7
Weak dollar — about 1 day in 4 since 2006 (24%), all of it in 2007–14
93.7 – 109.9
Moderate dollar, around its January 2006 base of 100 — about 1 day in 4 since 2006 (25%), mostly 2006–10, 2014–15 and 2018
109.9 – 116.8
Firm dollar, well above its 2006 base — about 1 day in 4 since 2006 (25%), mostly 2015–22
116.8 – 125.0
Strong dollar — about 1 day in 4 since 2006 (24%), mostly 2019–20 and since 2022
125.0 or above
Extreme dollar strength — about 1 day in 36 since 2006 (3%): March 2020, the autumn of 2022 and November 2024 to April 2025 (the record, 130.0 in January 2025)
Historical Extremes — What Happened Next?
When this indicator reaches extreme levels, history shows consistent patterns:
Sep 26, 20222022 Dollar Surge Peak
128.5
A then-record, at the end of a 15% rise over sixteen months as the Fed raised rates through 2022. Faster rises came in the twelve months to February 2009 (20%) and to August 2015 (17%).
Jul 26, 2011Post-GFC Dollar Trough
85.5
The lowest reading in the series, with the fed funds rate near zero. Copper's monthly price had peaked five months earlier, in February 2011, a high it did not pass again until May 2021.
Mar 3, 2009GFC Dollar Surge
106.0
The broad dollar rose 20% in the twelve months to February 2009, the fastest rise in the series. Over the same year copper fell 58% and oil 56%.
Frequently Asked Questions
What is the difference between DTWEXBGS and the DXY?
The DXY covers six currencies, led by the euro (57.6%), and no emerging-market currency. DTWEXBGS is the Fed's trade-weighted index of 26 currencies, emerging markets included. Day to day the two move closely (a correlation of 0.75 since 2006). On twelve-month changes the broad index has tracked the OFR's emerging-markets stress pillar a little more closely (0.44 against 0.36).
Why is this indicator colored differently from DXY?
DXY on this site is coloured at both extremes, the general-purpose view that a very weak and a very strong dollar each have costs. DTWEXBGS is coloured in one direction, higher = worse, because on this site it is an input to the Forward Stress gauge. There the question is whether dollar strength is tightening global financial conditions.
Why does the dollar strengthen during financial crises if crises originate in the US?
Much of the world's borrowing and trade is in dollars, so in a crisis borrowers abroad need dollars to repay debts, and that demand lifts the dollar even when the trouble starts in the US. The record shows it: the broad dollar rose 20% in the twelve months to February 2009. In March 2020 it rose 8% in just over two weeks, from March 6 to March 23.
How are this page's colour levels set?
Below 93.7 the dollar is weak, a level reached only in 2007–14. From 93.7 to 109.9 it is moderate, around its January 2006 base of 100. From 109.9 to 116.8 it is firm, well above that base. From 116.8 to 125 it is strong, enough to raise the cost of dollar debt for emerging-market borrowers. At 125 or above it is at an extreme, reached only in March 2020, the autumn of 2022 and from November 2024 to April 2025. Higher is coloured worse all the way up because on this site the broad dollar is an input to the Forward Stress gauge, where a stronger dollar means tighter global financial conditions. They are fixed levels, set in June 2026 with the series' whole history in view, and they do not move as new data arrives. A reading of 116.8 gets the same colour in 2008 as today, so a change of colour is a change in the dollar, never in the yardstick.