Nominal broad dollar index, United States

The nominal broad dollar index measures the value of the US dollar against the currencies of the United States' main trading partners, weighted by their share of US trade. The Federal Reserve Board publishes it in its H.10 release; the series here is the monthly average of the daily index, and a rise means the dollar has strengthened.

A stronger dollar makes imports cheaper and exports dearer, so it lowers US inflation at the margin and weighs on manufacturers that sell abroad. It also tightens financial conditions worldwide, because many governments and companies outside the United States borrow in dollars and find their debts heavier when the dollar climbs. Banks with foreign operations or dollar lending abroad watch it for the same reason.

The index is nominal: it does not adjust for different inflation rates across countries, so over long periods a currency with high inflation will fall against the dollar even if its real competitiveness has not changed. The Federal Reserve also publishes a real version for that purpose. The weights are updated each year as trade patterns shift, and the index covers many emerging-market currencies, so it can diverge from popular indexes built mostly on the euro, yen and pound.

The nominal broad dollar index is at its highest since July 2026, when it stood at 120.6. Within ten years, the nominal broad dollar index beats 58% of readings; earlier years held the nominal broad dollar index lower.

Trade-weighted value of the US dollar against a broad group of currencies, monthly average.

Federal Reserve Board publishes the nominal broad dollar index monthly in H.10, in index (as published in H.10). Code: JRXWTFB_N.M. Monthly basis: each month shows the average of the daily values in that month. Method for the nominal broad dollar index.