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The US Dollar Index (USDX) is an index or measure of the value of the United States dollar relative to a basket of foreign currencies. It is a weighted geometric mean of the dollar's value compared to the euro (EUR), Japanese yen (JPY), Pound sterling (GBP), Canadian dollar (CAD), Swedish krona (SEK) and Swiss franc (CHF).

It was started in March 1973, soon after the dismantling of the Bretton Woods system. At that time, the value of the Dollar Index was 100.000 and has since traded as high as the mid-160s but also into the low 70s. As of October 2008, the USDX was trading in the mid-80s. On March 16, 2008, the index reached 70.698, the lowest since its inception in 1973.

The index is updated 24 hours a day, 7 days a week. It is listed on ICE Futures Exchange US (e.g., New York Board of Trade [NYBOT]).
What is US Dollar Indexsup>®?
Just as Dow Jones Industrial Average reflects the general state of American stock market, US Dollar Index (USDXsup>®) reflects the general assessment of US Dollar. USDX does it through exchange rates averaging of US Dollar and six most tradable global currencies.

USDX = 50.14348112 × EURUSD−0.576 × USDJPY0.136 × GBPUSD−0.119 × USDCAD0.091 × USDSEK0.042 × USDCHF0.036
Those 20 countries (15 eurozone countries and five other countries, whose currencies are represented in USDX) make up the basis of global trade with the USA, have highly developed currency markets with the quotes which are independently determined by market participants. Besides, many currencies not included into USDX, are traded in close correlation with the currencies included in USDX. USDX value is calculated 24-hours a day, seven days a week.

Currencies and weights used in USDX calculation match the currencies and weights used in calculation of trade weighted US Dollar index by US Fed.

As USDX is based on indicative values of quotes, it can vary depending on quote source used.

USDX is calculated as geometric progression weighted average of six currencies rates against US Dollar in comparison with March, 1973. USDX measures the US Dollar value reduced to 100.00. Quote value 105.50 means that US Dollar value in relation to currency basket grew 5.50% from March, 1973.

March, 1973 was chosen as a zero point due to its significance in Forex market history. Those times the leading trade nations allowed their currencies to be quoted freely against each other. Such agreement was made in Smithsonian Institution in Washington, and is considered to be a victory of free market theorists. Smithsonian agreement replaced the collapsed fixed rate regime launched approximately 25 years earlier in Bretton Woods, New Hampshire.

Current rate of USDX reflects the average dollar value against this base period of 1973. Since that time, Dollar Index has reached the peak 165 and the low 76. The volatility of such instrument by amplitude and variability can be compared with stock index futures.

美元指数
美元指数，又称美汇指数，是衡量美元在国际外汇市场汇率变化的一项综合指标，由美元对六个主要国际货币（欧元、日元、英镑、加拿大元、瑞典克朗和瑞士法郎）的汇率经过加权几何平均数计算获得。

美元指数是综合反映美元在国际外汇市场的汇率情况的指标，用来衡量美元对一揽子货币的汇率变化程度。它通过计算美元和对选定的一揽子货币的综合的变化率，来衡量美元的强弱程度，从而间接反映美国的出口竞争能力和进口成本的变动情况。如果美元指数下跌，说明美元对其他的主要货币贬值。

　　美元指数期货的计算原则是以全球各主要国家与美国之间的贸易结算量为基础，以加权的方式计算出美元的整体强弱程度，以100为强弱分界线。在1999年1月1日欧元推出后，这个期货合约的标的物进行了调整，从十个国家减少为六个国家，欧元也一跃成为了最重要的、权重最大的货币，其所占权重达到了57.6％，因此，欧元的波动对于美元指数的强弱影响最大。

　　币别指数权重（％）

　　欧元57.6

　　日元13.6

　　英镑11.9

　　加拿大元9.1

　　瑞典克朗4.2

　　瑞士法郎3.6

　　美元指数USDX是参照1973年3月六种货币对美元汇率变化的几何平均加权值来计算的。以100.00为基准来衡量其价值。105.50的报价是指从1973年3月以来，其价值上升了5.50％。

　　1973年3月被选作参照点是因为当时是外汇市场转折的历史性时刻。从那时主要的贸易国容许本国货币自由地与另一国货币进行浮动报价。该协定是在华盛顿的史密斯索尼安学院（SmithsonianInstitution）达成的，象征着自由贸易理论家的胜利。史密斯索尼安协议（Smithsonianagreement）代替了大约25年前的在新汉普郡（NewHampshire）布雷顿森林（BrettonWoods）达成的并不成功的固定汇率体制。

　　当前的USDX水准反映了美元相对于1973年基准点的平均值。到现在目前为止，美元指数曾高涨到过165个点，也低至过80点以下。该变化特性被广泛地在数量和变化率上同期货股票指数作比较。