Monthly U.S. Dollar Index (DXY) development 1973-2024
The US dollar index of the summer of 2023 was lower than that of the second half of 2022, although it was still relatively high compared to previous years. The index – often referred to with the code DXY, or USDX – measures the value of the U.S. dollars compared to six other foreign currencies at the same time. These include the euro, the Swiss franc, the Japanese yen, the Canadian dollar, the British pound, and the Swedish króna. It originated in 1973, with the arrival of the petrodollar and the dissolution of the Bretton Woods Agreement. As the index has only been updated once – when the euro arrived in 1999 – some argue this composition is not accurate to the current state of the world. The price development of the U.S. dollar affects many things, including commodity prices in general.
