U.S. Dollar Index History

Definition: The U.S. dollar index historical data is a record of the dollar's value as measured by exchange rates. In 1973, the Federal Reserve created the index to keep track of the dollar's value. It was right after President Nixon abandoned the gold standard that year. It allowed the value of the dollar to float freely in the world's foreign exchange markets. Before the creation of the dollar index, the dollar was fixed at $35/ounce of gold.

It had been that way since the 1944 Bretton Woods Agreement.

The dollar index began at 100. The index has measured the percent change in the dollar's value since then. It changes constantly in reaction to shifts in the ongoing forex trades. For example, its all-time high was 163.83 on March 5, 1985. That meant the dollar was 63.83 percent higher than in 1973. Its all-time low was 71.58 on April 22, 2008. That meant it was 28.42 percent lower than its inception. (Source: "DX.F" from Stooq.com. "USDX," ICE Futures.com.)

Historical Data

Here is U.S. dollar index historical data, as measured by the DXY, for the last five years.

2007: The dollar's value, as measured by the DXY spot price,  was 76.20 on December 31.

2008: The dollar ended the year at 82.15 after falling to a low of $72.17 on March 31, 2008. That was shortly after the Bear Stearns bailout signaled damage from the Subprime Mortgage Crisis.

At that time, investors thought it only affected the U.S., and bought euros. By the end of the year, it was clear the 2008 financial crisis was worldwide. The Fed lowered the Fed funds rate 8 times. It initiated quantitative easing on November 25. Investors returned to the dollar as a safe haven.

2009: The DXY ended the year at 77.92.

Dollar fell as euro rose once the European Central Bank began lowering rates.  

2010: The DXY rose to 86.04 on June 30, but ended the year at 78.96 despite Fed's launch of QE 2 on November 3.

2011: The DXY fell to 74.52 on June 30 due to U.S. debt default crisis. Investors returned to the dollar due to eurozone crisis. Fed launched Operation Twist in September.  DXY ended the year at 80.21.

2012: Fed announced QE3 on September 13 and QE4 in December. The DXY closed at 79.678.

2013: On June 19, Fed Chair Bernanke announced the Fed would taper off QE purchases. Investors sold bonds in a panic, driving the yield on the 10-year Treasury note up 1 percent. The Fed delayed tapering until December. The DXY closed the year at 80.392. 

2014:  The dollar remained stable for the first six months, hitting 80.187 on July 11. The Ukraine crisis and Greek debt crisis drove investors out of the euro and into the dollar as a safe haven. The Fed ended QE in October. It held an unprecedented $4.5 trillion in Treasury notes.  It announced it would raise the Fed funds rate in 2015. The dollar rose to 90.030 by year end.

2015: The European Central Bank announced it would begin QE in March. The euro fell to $1.0524 on March 12.

The USDX hit a 52-week high of 100.390 on March 13, 2015. The dollar had strengthened 25 percent from its 2014 low.  The Fed raised its benchmark rate to 0.5 percent on December 17, 2015.

2016: The dollar opened the year at 98.38. By April 24, it drifted to its 2016 low of 93.08. On December 11, it reached the year's high at 102.95. On December 14, the Fed raised the fed funds rate to 0.75 percent.

2017: Hedge funds began shorting the dollar. Europe's economy was improving, strengthening the euro. That sent the USDX down to 96.05 by June 25, 2017. The Fed raised the fed funds rate to 10. percent on March 15, and 1.25 percent on June 14.  (Source: DXY Interactive Chart, Marketwatch. Its earliest record is 2007.)

Historical Chart (Using DX.F)

Year (last business day)	DX.F Close	Factors Driving Dollar's Value
1967	121.79	Gold standard kept dollar at $35/oz.
1968	121.96
1969	121.74	Dollar hit 123.82 on 9/30.
1970	120.64	Recession.
1971	111.21	Wage-price controls.
1972	110.14	Stagflation.
1973	102.39	Gold standard ends. Index created in March.
1974	97.29	Watergate.
1975	103.51	Recession ended.
1976	104.56	Fed lowered rate.
1977	96.44
1978	86.50	Fed raised rate to 20% to stop inflation.
1979	85.82
1980	90.39	Recession.
1981	104.69	Reagan tax cut.
1982	117.91	Recession ended.
1983	131.79	Tax hike. Increased defense.
1984	151.47
1985	123.55	Dollar high was 163.83 on March 5.
1986	104.24	Tax cut.
1987	85.66	Black Monday.
1988	92.29	Fed raised rates.
1989	93.93	S&L Crisis.
1990	83.89	Recession.
1991	84.69	Recession.
1992	93.87	NAFTA approved.
1993	97.63	Balanced Budget Act.
1994	88.69
1995	84.83	Fed raised rate.
1996	87.86	Welfarereform.
1997	99.57	LTCM crisis.
1998	93.95	Glass-Steagall repealed.
1999	101.42	Y2K scare.
2000	109.13	Tech bubble burst.
2001	117.21	Dollar rose to 118.54 on 12/24 after 9/11 attacks.
2002	102.26	Euro launched as a hard currency at $.90.
2003	87.38	Iraq War. JGTRRA.
2004	81.00
2005	90.96	War on Terror doubled debt. It weakened dollar.
2006	83.43
2007	76.70	Euro rose to $1.4718.
2008	82.15	Dollar hit record low of 71.58 on April 22.
2009	78.28	Euro rose when ECB lowered rates.
2010	79.31	QE2.
2011	80.56	Operation Twist. Debt default crisis.
2012	79.87	QE3 and QE4. Fiscal cliff.
2013	80.21	Taper tantrum. Government shutdown. Debt crisis.
2014	90.28	Ukraine crisis. Greek debt crisis.
2015	98.65	Dollar rose 25 percent since July 2014. See Dollar Strength.
2016	102.62	Fed raised rates.