Data through: Oct 16, 2026 · updated Oct 16 · Updates: Daily (market days)
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 70th percentile of all historical readings.
What this means right now: The dollar is in the middle of its record — between 95 and 103, the most common reading since 1971: about 1 day in 4 (27%). Every year since 2015 has spent time here.
US Dollar Index (DXY) · Daily · 1971–2026
NBER recessions
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Monthly values
US Dollar Index (DXY) — 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
101.78
Very strong reading
Sep 2026
101.45
Very strong reading
Aug 2026
99.43
Very strong reading
Jul 2026
99.80
Very strong reading
Jun 2026
101.19
Very strong reading
May 2026
98.91
Very strong reading
Month-end readings of the same series the chart shows, from dxy. Values are the current record, not point-in-time: a month that has since been revised shows its revised value.
What is the US Dollar Index?
The US Dollar Index measures the dollar against six major currencies: the euro (57.6%), Japanese yen (13.6%), British pound (11.9%), Canadian dollar (9.1%), Swedish krona (4.2%) and Swiss franc (3.6%). It is a widely quoted dollar gauge; the Fed's broad index, also on this site, covers 26 currencies.
The dollar is the world's main reserve currency, and most commodities are priced in it. A stronger dollar raises the cost of dollar debt for foreign borrowers and lowers the dollar value of US companies' foreign sales; a weaker one does the reverse.
How We Color-Code the US Dollar Index
Our heatmap colors this indicator against historically significant thresholds:
Below 82.00
Extreme dollar weakness — below 82, about 1 day in 9 since 1971 (11%): short periods in 1990–91, 1992, 1995 and 2004–05, and seven years from 2007 to 2014
82.00 – 87.00
Weak dollar — 82 to 87, about 1 day in 9 since 1971 (11%), mostly 1979–80, 1990–96 and 2004–14
87.00 – 91.00
Below the middle — 87 to 91, about 1 day in 8 since 1971 (12%), most recently in 2018 and 2020–21
91.00 – 95.00
A little below the middle — 91 to 95, about 1 day in 9 since 1971 (12%), most recently in 2015–18 and 2020–22
95.00 – 103.00
The middle of the record — 95 to 103, the most common reading: about 1 day in 4 since 1971 (27%), and part of every year since 2015
103.00 – 107.00
A little above the middle — 103 to 107, about 1 day in 11 since 1971 (9%), most recently in 2022–25
107.00 – 111.00
Strong dollar — 107 to 111, about 1 day in 20 since 1971 (5%), most recently in 2022 and 2024–25
111.00 – 115.00
Very strong dollar — 111 to 115, about 1 day in 34 since 1971 (3%): 1971–72, 1981–82, 1986, 2000–02 and 2022
Above 115.00
Extreme dollar strength — above 115, about 1 day in 10 since 1971 (10%): 1971, 1982–86 and 2000–02
Historical Extremes — What Happened Next?
When this indicator reaches extreme levels, history shows consistent patterns:
Feb 1985Plaza Accord era peak
164.72
The highest close on record. By the end of 1987 the index was 48% lower, at 85.4.
Apr 2008Pre-GFC trough
71.33
The lowest close on record, four months into the 2008–09 recession. The Fed had cut its rate from 5.3% in July 2007 to 2.3% that month.
Sep 2022Fed tightening surge
114.11
The highest close since May 2002. The Fed had raised its rate from near zero in March 2022 to 2.6% in September.
Frequently Asked Questions
Why does the dollar matter for US investors?
A strong dollar lowers the dollar value of US companies' foreign sales when they are reported. It also raises borrowing costs for foreign holders of dollar debt, which can bring stress in emerging markets back to US markets.
What drives the dollar?
Interest rates in the US against those abroad, the trade and budget deficits, and global risk appetite. Rate differences are the usual short-run explanation; trade and capital flows matter more over years.
Why is the threshold two-sided?
Because each extreme has a cost: a very strong dollar raises the cost of dollar debt abroad, and a very weak one raises import prices. The record is mixed, though: a recession fell inside or within a year of four of the eight extreme periods since 1971.
How does a strong US dollar affect S&P 500 earnings and emerging market economies differently?
For S&P 500 companies, a strong dollar lowers the dollar value of overseas revenue, a headwind to reported earnings. For emerging-market borrowers with dollar debt, a rising dollar raises the cost of that debt in local currency.
What drives the US dollar index in the long run versus the short run?
Over months the dollar moves mostly with interest-rate expectations: when US rates rise against those in Europe, Japan and the UK, money flows into dollar assets. Over years, productivity, the current-account balance and the dollar's role in trade and central-bank reserves matter more.