DTWEXBGS: Daily Trade-Weighted Broad US Dollar Index from FRED (2006–2026)

DTWEXBGS, the Federal Reserve’s Nominal Broad US Dollar Index, measures the trade-weighted value of the dollar against a basket of 26 currencies including major emerging market partners — substantially broader than the six-currency ICE US Dollar Index (DXY). Published daily by the Federal Reserve Board of Governors and distributed through FRED, DTWEXBGS provides the most accurate picture of dollar strength in the global financial system. The dataset covers daily observations since January 2006, the index’s base period.

Dataset: DTWEXBGS — Nominal Broad US Dollar Index (2006–2026) · Updated 2026-07-31

Source: FRED series DTWEXBGS · Federal Reserve Bank of St. Louis

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV and Excel files contain the following columns. Each row represents one business day.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full dataset is available in CSV and Excel formats — daily observations of the trade-weighted dollar index since 2006.

FRED Direct CSV Access

The underlying data is published in FRED under the series code DTWEXBGS:

https://fred.stlouisfed.org/graph/fredgraph.csv?id=DTWEXBGS

The Eco3min dataset mirrors this series with consistent column naming and stable URLs designed for programmatic access in automated data pipelines.

Direct CSV Access — Eco3min Structured Dataset

https://eco3min.fr/dataset/us-dollar-index.csv

This URL returns the complete dataset in CSV format.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/us-dollar-index.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.head())
print(df["dollar_index"].describe())

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/us-dollar-index.csv"
df <- read_csv(url)

head(df)
summary(df$dollar_index)

Both examples load the dataset directly from the URL — no download or API key required.

Methodology

The Nominal Broad US Dollar Index (DTWEXBGS) is computed by the Federal Reserve Board of Governors using bilateral exchange rates weighted by each partner country’s share of US goods and services trade. The basket includes 26 currencies, making it substantially broader than the ICE US Dollar Index (DXY), which tracks only six currencies (EUR, JPY, GBP, CAD, SEK, CHF) with weights frozen since 1973.

The DTWEXBGS weights are updated annually to reflect changes in trade patterns. As of the most recent revision, China, the Euro Area, Mexico, Canada, and Japan are the largest weights. This means the index captures the dollar’s strength against emerging market currencies — particularly the Chinese yuan and Mexican peso — which the DXY ignores entirely.

The index is rebased to January 2006 = 100. Values above 100 indicate the dollar is stronger than in January 2006 on a trade-weighted basis; values below 100 indicate relative weakness. The index measures nominal exchange rates only; for real (inflation-adjusted) comparisons, the BIS publishes a separate real effective exchange rate (REER) index. On the euro’s specific drivers, see our reading of the forces behind the euro.

This dataset is updated weekly (Saturday 08:00 UTC) via automated pull from the FRED API. Daily observations reflect the previous business week’s exchange rates.

Data Quality & Provider Notes

DTWEXBGS is published by the Federal Reserve Board of Governors (H.10 release schedule) and distributed through FRED. It is the Fed’s preferred broad dollar measure since the legacy Major Currencies Index (DTWEXM) was retired in January 2020.

• Release latency. The Federal Reserve publishes DTWEXBGS on a one-business-day lag (data for T-1 appears on T at approximately 16:15 ET). FRED ingests the H.10 release within minutes. Eco3min pulls the FRED API weekly (Saturday 08:00 UTC) for the structured dataset.
• Revisions policy. Daily exchange rate values are not revised. Annual weight updates (typically January) can subtly affect the index level going forward but do not revise historical observations. The historical series since 2006 is stable.
• Alternative sources. Bloomberg (BBDXY — Bloomberg Dollar Spot Index), Refinitiv/LSEG, and the BIS Effective Exchange Rate dataset publish comparable broad-basket dollar indices with different weighting methodologies. The DXY (ticker on ICE: DX-Y.NYB) tracks only six developed-market currencies with frozen 1973 weights and is not a substitute for trade-weighted analysis.
• Known gaps. Weekends and US public holidays produce expected gaps in the daily series. Pre-2006 history is computed retrospectively in a separate FRED series (DTWEXM, retired 2020); DTWEXBGS as published starts in January 2006.

Practitioners should verify the latest observation date in the Eco3min Key Stats block before time-sensitive analysis, as the weekly pull lags the live FRED release by up to seven days.

Common Pitfalls When Using DTWEXBGS

DTWEXBGS is widely cited, but four interpretation errors are common in macro analysis.

1. Confusing DTWEXBGS and DXY. The DXY tracks only six developed-market currencies (EUR 57.6%, JPY 13.6%, GBP, CAD, SEK, CHF) with weights frozen since 1973. DTWEXBGS tracks 26 currencies including the Chinese yuan, Mexican peso, and other emerging market partners. When EM currencies weaken sharply, DTWEXBGS diverges from DXY — and DTWEXBGS is the more accurate measure of dollar strength in the global financial system. Using DXY as a proxy for “the dollar” misses the EM channel entirely. Directly related: our comparison of the broad DTWEXBGS and the narrow DXY dollar indices.
2. Reading level vs change. A DTWEXBGS level of 125 says nothing on its own — interpretation requires either historical context (percentile, z-score) or the year-on-year change. The macro impact of the dollar comes from the rate of change in strength relative to forecast, not from any absolute level.
3. Nominal vs real exchange rates. DTWEXBGS is a nominal index. For comparisons of competitiveness across decades, the BIS Real Effective Exchange Rate (REER) adjusts for inflation differentials. The nominal dollar’s appreciation between 2011 and 2015 reads differently in real terms when US disinflation outpaced trading partners.
4. Ignoring the offshore-dollar funding channel. A common error is treating dollar strength as a purely directional FX signal. The macro impact runs through the $12+ trillion in dollar-denominated debt held outside the US — when DTWEXBGS rises, the real debt burden of foreign borrowers rises mechanically, regardless of any monetary policy action. This is the channel through which the dollar transmits Fed policy globally.

Historical Regimes

2006–2008 — Pre-crisis dollar weakness. DTWEXBGS fell from 100 to below 95 as the US current account deficit widened to 6% of GDP and the Fed cut rates in response to the emerging housing crisis. This dollar weakness coincided with a commodity supercycle and rapid EM growth, as cheap dollar funding fueled carry trades into higher-yielding currencies.

2008–2011 — Crisis-driven safe haven. DTWEXBGS surged during the GFC as global deleveraging triggered a scramble for dollar liquidity. The Fed’s QE1 and QE2 programs temporarily weakened the dollar in 2009–2011, but the European sovereign debt crisis (Greece, Ireland, Portugal) ultimately pushed capital flows back toward US assets. The index oscillated between 95 and 105 during this volatile period, with safe-haven inflows offsetting balance-sheet expansion.

2011–2016 — The great dollar rally. DTWEXBGS rose from 95 to 128 — roughly a 35% appreciation driven by divergent monetary policies. The Fed tapered QE and signaled rate hikes while the ECB launched its own QE program and the BOJ pursued aggressive monetary easing under Abenomics. Commodity-exporting currencies collapsed as WTI oil fell from $107 to $26, amplifying the dollar’s trade-weighted strength.

2017–2019 — Range consolidation. Despite continued Fed rate hikes, DTWEXBGS stabilized as the European and Asian economies recovered. The index traded in a narrow 115–125 range, with US trade policy creating episodic volatility but no sustained directional trend.

2020–present — Pandemic and tightening cycle. The dollar initially weakened as the Fed cut to zero and launched unlimited QE in March 2020. DTWEXBGS then surged to a 20-year high of 131 in September 2022 as the Fed executed its most aggressive tightening cycle in 40 years. The subsequent path has been shaped by the relative pace of central bank tightening globally, with the dollar moderating as other central banks (ECB, BOE) closed the rate differential. The dollar’s position at the onset of major global crises is examined in the US Dollar and Global Crises study (1973–2023).

Related Macroeconomic Datasets

The trade-weighted dollar transmits US monetary policy to the rest of the world. A strong dollar tightens financial conditions for $12+ trillion in offshore dollar debt. Cross-referencing with US rates, commodities, and gold helps isolate whether dollar moves are driven by relative growth (benign), risk aversion (disruptive), or commodity dynamics.

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.

Explore the Eco3min Dataset Hub

Sources

• Board of Governors of the Federal Reserve System — Nominal Broad US Dollar Index (DTWEXBGS), H.10 release
• Federal Reserve Bank of St. Louis — FRED database
• Bank for International Settlements — Effective Exchange Rate Indices methodology

Dataset Reference

Eco3min Research. (2026). DTWEXBGS — Nominal Broad US Dollar Index (2006–2026).<br> https://eco3min.fr/en/us-dollar-index-dataset-dtwexbgs/